Used in the synthesis of pharmaceuticals, particularly as an intermediate in the production of anti-inflammatory and anticoagulant drugs. Commonly employed in organic chemistry for the preparation of esters and amides due to its carboxylic acid functionality. Serves as a building block in the development of fragrances and flavoring agents, contributing a honey-like odor in certain derivatives. Also utilized in polymer chemistry to modify resin properties and enhance solubility characteristics in specialty coatings.