This compound is primarily utilized in the synthesis of pharmaceuticals and organic intermediates. It serves as a key building block in the production of various active pharmaceutical ingredients (APIs), particularly those targeting inflammatory and cardiovascular diseases. Its structure allows for further functionalization, making it valuable in creating complex molecules with specific biological activities. Additionally, it is employed in research and development for designing novel drug candidates, leveraging its benzoic acid and ester functional groups for chemical modifications. In industrial applications, it may also be used in the preparation of specialty chemicals and fine chemicals, contributing to advancements in material science and chemical engineering.