Used primarily as an intermediate in organic synthesis, especially in the production of pharmaceuticals and fine chemicals. It serves as a building block for esters and other derivatives used in the development of active pharmaceutical ingredients. Its hydroxyl and ester functionalities make it valuable in creating chiral molecules through asymmetric synthesis. Also employed in the preparation of specialty polymers and coatings due to its reactivity and solubility characteristics. Additionally, it finds use in the fragrance and flavor industry as a precursor for ester-based aroma compounds.