Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of heterocyclic compounds, which are essential in drug discovery. Additionally, it finds application in material science, where it contributes to the synthesis of conductive polymers and advanced materials with specific electronic properties. Its methoxy and carboxylic acid groups make it versatile for further functionalization, enabling the creation of complex molecules for various industrial applications.