Used as an intermediate in the synthesis of photochromic compounds, particularly in the production of dyes and pigments that change color upon exposure to UV light. It plays a role in the development of light-sensitive materials for ophthalmic lenses, such as transition lenses. Also utilized in specialty polymers where controlled molecular cross-linking under light exposure is required. Its aldehyde and ester functional groups allow for further chemical modifications, making it valuable in organic synthesis for creating complex aromatic systems.