This chemical is widely used in organic synthesis as an intermediate for the production of various pharmaceuticals and fine chemicals. It serves as a key building block in the synthesis of active pharmaceutical ingredients (APIs), particularly in the development of anti-inflammatory and antimicrobial agents. Additionally, it is utilized in the preparation of dyes and pigments due to its ability to form stable and vibrant color compounds. Its functional groups, including the formyl and hydroxyl groups, make it a versatile compound for further chemical modifications, enabling the creation of complex molecules for industrial and research applications.