Used as an intermediate in the synthesis of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a key building block in pharmaceutical manufacturing, enabling the formation of the active compound through esterification and subsequent hydrolysis steps. Its structure allows for efficient transformation into propionic acid derivatives, which exhibit analgesic and antipyretic properties. The compound is also explored in the development of other bioactive molecules due to its aromatic and aliphatic hydroxyl functionality, making it valuable in medicinal chemistry and industrial drug synthesis.