Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a chiral building block in asymmetric synthesis, enabling the development of enantiomerically pure compounds. Also finds use in the fragrance industry due to its aromatic character, contributing to the creation of complex scent profiles in perfumes and cosmetics. Its structural properties make it suitable for modifying solubility and stability in active ingredients.