Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves as a building block in the preparation of active ingredients in certain analgesic and anti-inflammatory drugs due to its ability to participate in condensation and cyclization reactions. Its ester and carbonyl functionalities make it suitable for use in organic transformations, including the formation of heterocyclic compounds. Also employed in the development of dyes and functional materials where aromatic ketone derivatives are required. Its structural features allow for selective modifications, making it valuable in research and development of new chemical entities.