Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic acid derivatives with potential metabolic and cardiovascular applications. It serves as a building block in the development of compounds targeting lipid regulation and nervous system disorders. Its hydroxyl and ester functionalities allow for easy modification in multi-step organic syntheses, making it valuable in medicinal chemistry research. Also utilized in the preparation of agrochemicals and functional dyes due to its aromatic and electron-rich structure.