Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical manufacturing. It serves as a protecting group for nicotinic acid derivatives during multi-step syntheses due to its stability under various reaction conditions. Also employed in the development of biologically active compounds, including enzyme inhibitors and receptor ligands, where the ester moiety can be selectively hydrolyzed to release the active acid form. Its lipophilic nature enhances cell membrane permeability in prodrug designs. Additionally, it finds use in analytical chemistry as a derivatizing agent for detection and quantification of metabolic products.