This chemical is primarily used in the synthesis of advanced materials and polymers due to its bifunctional structure, which includes both hydroxyl and carboxylic acid groups. It serves as a key intermediate in the production of specialty resins and coatings, particularly those requiring enhanced adhesion and durability. Additionally, it is utilized in the development of pharmaceutical compounds, where its reactive sites facilitate the creation of complex molecules with specific therapeutic properties. Its application extends to the field of organic electronics, where it contributes to the fabrication of conductive polymers and light-emitting materials.