Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for selective transformations, making it valuable in building chiral centers through nucleophilic substitution or ester hydrolysis followed by further functionalization. Commonly employed in research and development for creating analogs of 2-arylpropionic acid derivatives, which exhibit anti-inflammatory, analgesic, and antipyretic properties. Also utilized in agrochemical synthesis for developing herbicides and plant growth regulators due to its reactivity and stability under various reaction conditions.