Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a building block in organic synthesis due to the presence of both hydroxyl and carboxylic acid functional groups, enabling esterification and amidation reactions. Also employed in the development of UV stabilizers and antioxidants for polymers, helping to improve material durability under environmental stress. Its derivatives show potential in medicinal chemistry for antimicrobial and antifungal applications.