Used in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. It plays a role in the development of compounds with potential therapeutic properties, such as anti-inflammatory and antimicrobial agents. Additionally, it is utilized in the creation of fragrances and flavoring agents due to its ester functional group, which contributes to pleasant aromas. In research, it serves as a building block for complex molecules in medicinal chemistry and material science. Its versatility makes it valuable in designing and synthesizing novel chemical entities.