Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block in esterification and condensation reactions due to its reactive carboxylic acid and ester functional groups. Commonly employed in the development of prodrugs, where its structure aids in improving drug solubility and bioavailability. Also utilized in the fragrance industry for synthesizing ester-based aroma compounds. Its bifunctional nature allows for selective chemical modifications, making it valuable in research and industrial applications involving polymer precursors and specialty solvents.