Used in the synthesis of pharmaceuticals and fine chemicals, particularly as an intermediate in the production of anticoagulant drugs and coumarin derivatives. It serves as a building block in organic synthesis due to the presence of both aldehyde and carboxylic acid functional groups, enabling diverse chemical transformations. Also employed in the development of dyes, fragrances, and UV stabilizers for polymers. Its hydroxyl and formyl groups allow for chelation of metal ions, making it useful in coordination chemistry and catalyst design.