Used in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure serves as a key intermediate in creating compounds with analgesic and antipyretic properties. Also employed in the development of fragrances and flavoring agents due to its aromatic characteristics. Commonly utilized in organic synthesis for constructing more complex molecules through esterification, amidation, and coupling reactions.