Used in organic synthesis as a versatile intermediate for the preparation of various pharmaceuticals and agrochemicals. It serves as a key building block in the development of biologically active compounds, particularly in the synthesis of inhibitors and modulators for enzymes and receptors. Its hydroxyl and ester functional groups allow for further chemical modifications, making it valuable in medicinal chemistry research. Additionally, it is employed in the production of fine chemicals and specialty materials, contributing to advancements in drug discovery and material science.