Used in the synthesis of pharmaceuticals, organic fine chemicals, dyes, fragrances, and bioactive substances due to its reactive hydroxyl and carboxylic acid groups. Commonly employed in the production of resins, coatings, UV absorbers in cosmetics and plastics, and polymers, where the carboxylic groups enable reactions with other substances to form stable structures. Also serves as a chelating agent in industrial processes and water treatment, binding metal ions. Studied as a catalyst in certain synthetic processes. Its derivatives and the compound itself are explored in research for antioxidant, antimicrobial applications, and advanced materials utilizing its cyclic structure and adjacent functional groups.