Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure supports the construction of heterocyclic compounds, making it valuable in developing drugs with anti-cancer, anti-microbial, and anti-hypertensive properties. Also employed in the preparation of dyes and pigments due to its aromatic and functional group composition. Commonly utilized in research settings for designing new organic compounds with potential therapeutic applications.