This chemical is primarily used in organic synthesis as a building block for creating more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs with anti-inflammatory or antimicrobial properties. Additionally, it is utilized in the synthesis of dyes and pigments due to its ability to form stable, colorful compounds. In research, it is employed to study reaction mechanisms and develop new synthetic pathways. Its aldehyde and hydroxyl groups make it a versatile reagent for various chemical transformations.