Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs, particularly those targeting cardiovascular and inflammatory conditions. Its hydroxyl and carboxylic acid functional groups make it versatile for chemical modifications, enabling the creation of complex molecules with therapeutic properties. Additionally, it is employed in the development of organic materials, such as polymers and coatings, where its structural properties contribute to enhanced stability and performance. In research, it is utilized as a building block for studying biochemical pathways and designing novel compounds with potential medical applications.