Used in organic synthesis as an intermediate for the production of pharmaceuticals and fine chemicals. It serves as a building block in the synthesis of complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). Its formyl and ester functional groups make it versatile for further chemical modifications, such as condensation reactions or reductions. It is also employed in the preparation of dyes, pigments, and other specialty chemicals. Its role in research and development is significant for creating novel compounds with potential therapeutic or industrial applications.