Used as a key intermediate in the synthesis of nicotinic acid derivatives, particularly in the production of pharmaceuticals targeting central nervous system disorders. It serves in the development of nootropic agents and cognitive enhancers due to its structural similarity to pyridine-based bioactive compounds. Also utilized in agrochemical formulations for the creation of herbicides and plant growth regulators. Its hydroxyl and ester functionalities allow for easy modification in multi-step organic syntheses, making it valuable in medicinal chemistry research and development.