This compound is primarily utilized in organic synthesis, particularly as an intermediate in the production of pharmaceuticals and fine chemicals. Its structure, featuring a methoxyphenyl group and a carboxylic acid moiety, makes it valuable for constructing more complex molecules. It is often employed in the development of anti-inflammatory and analgesic agents due to its ability to interact with biological targets. Additionally, it serves as a building block in the synthesis of UV absorbers and other specialty chemicals used in materials science. Its conjugated system also makes it a candidate for research in organic electronics and photochemistry.