Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of anticoagulants and coumarin derivatives. It serves as a building block in organic reactions due to the presence of both aldehyde and carboxylic acid functional groups, enabling condensation and cyclization processes. Also applied in the development of dyes and fluorescent compounds owing to its aromatic structure and reactivity. Its hydroxyl group allows for further functionalization, making it valuable in designing complex molecules for medicinal chemistry and material science.