Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for ester and ether derivatives due to the reactivity of the phenoxy and carboxylate groups. Commonly employed in the preparation of herbicides and plant growth regulators, it contributes to the development of compounds with enhanced stability and bioavailability. Also utilized in research settings for synthesizing biologically active molecules and in the formulation of specialty chemicals requiring water-soluble organic salts.