This compound is primarily utilized in the synthesis of advanced organic materials and pharmaceutical intermediates. Its structure, featuring both ester and ether functional groups, makes it a versatile building block in the development of bioactive molecules. It is often employed in the preparation of prodrugs, where its ester moiety can be hydrolyzed in vivo to release the active drug. Additionally, it serves as a key intermediate in the production of anti-inflammatory and analgesic agents, leveraging its phenylpropanoate core. Its tert-butoxy group provides stability during synthetic processes, making it valuable in multi-step organic reactions.