Primarily utilized in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of drugs targeting inflammation and cancer, due to its ability to inhibit specific enzymes involved in these conditions. Additionally, it is employed in the synthesis of UV-absorbing agents, making it useful in the formulation of sunscreens and other protective coatings. In research settings, it is often used to study the properties of cinnamic acid derivatives, aiding in the discovery of new therapeutic agents and materials.