Used in the synthesis of pharmaceutical intermediates, particularly in the development of anti-inflammatory and analgesic drugs. It serves as a building block in organic reactions due to the presence of both hydroxyl and carboxylic acid functional groups, enabling esterification and ether formation. Also employed in the preparation of specialty polymers and agrochemicals where substituted aromatic structures are required. Its methoxy and hydroxymethyl groups allow for selective modifications in multi-step synthesis routes.