Used in the synthesis of pharmaceutical intermediates, particularly in non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a building block for modifying aromatic acetic acid derivatives to enhance drug stability and bioavailability. Also employed in the preparation of liquid crystal materials due to its alkyl-aryl ether structure, which supports mesogenic properties. Its functional groups allow easy esterification or amidation for further chemical derivatization in research and industrial applications.