This chemical is widely used in organic synthesis as a key intermediate for the production of various pharmaceuticals and fine chemicals. It plays a crucial role in the synthesis of compounds with potential therapeutic properties, particularly in the development of anti-inflammatory and antimicrobial agents. Additionally, it is employed in the preparation of fragrances and flavoring agents due to its ability to contribute to the formation of aromatic esters. Its reactivity makes it valuable in constructing complex molecular structures in research and industrial applications.