Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. Its structure makes it valuable in the development of complex molecules, particularly in the creation of active pharmaceutical ingredients (APIs) that require aromatic ester functionalities. Additionally, it is employed in research settings for studying chemical reactions involving ester groups and aromatic systems, aiding in the development of new synthetic methodologies. Its role in the synthesis of fine chemicals and specialty materials further highlights its importance in industrial chemistry.