Used primarily in the synthesis of organic compounds, it serves as an intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting inflammation and pain. Its structure is beneficial in creating active ingredients for medications that require specific functional groups for efficacy. Additionally, it finds application in the preparation of fine chemicals and specialty materials, where its ethoxy and methoxy substituents contribute to desired chemical properties. In research, it is utilized in organic synthesis studies to explore new reactions and pathways.