Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block for ester and ketone derivatives due to the presence of reactive carbonyl and ester functional groups. Commonly employed in the synthesis of anticoagulant agents and heterocyclic compounds. Its reactivity allows for condensation and reduction reactions, making it valuable in the development of active pharmaceutical ingredients (APIs). Also utilized in the production of agrochemicals and specialty polymers where functionalized aromatic esters are required.