This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the development of fragrances and flavoring agents. Its structure makes it a valuable intermediate in producing aromatic esters, which are key components in creating pleasant scents for perfumes and cosmetics. Additionally, it is employed in the pharmaceutical industry as a building block for synthesizing active pharmaceutical ingredients (APIs) due to its versatile reactivity. In research, it serves as a model compound for studying cyclization and esterification reactions, aiding in the development of new synthetic methodologies. Its application extends to agrochemicals, where it is used in the formulation of certain pesticides and herbicides.