Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders. It serves as a building block for nicotinate-based compounds with potential bioactivity, related to pyridine-3-carboxylate derivatives. Also applied in the preparation of agrochemicals and functional materials due to its reactive hydroxymethyl and ester groups. Its structure allows for easy modification in multi-step organic syntheses, making it valuable in medicinal chemistry research.