This compound is primarily utilized in the synthesis of pharmaceuticals and organic intermediates. It serves as a key building block in the production of active pharmaceutical ingredients (APIs), particularly in the development of drugs targeting metabolic and inflammatory diseases. Its functional groups, including the hydroxymethyl and carboxylic acid moieties, make it versatile for chemical modifications, enabling the creation of complex molecules. Additionally, it is employed in research laboratories for studying chemical reactions and developing novel therapeutic agents. Its role in organic synthesis also extends to the preparation of specialty chemicals used in various industrial applications.