This compound is primarily utilized in organic synthesis as an intermediate for the production of various fine chemicals and pharmaceuticals. Its structure, featuring a phenoxyphenyl group conjugated with an acrylic acid moiety, makes it a valuable building block in the development of compounds with potential biological activity. It is often employed in the synthesis of anti-inflammatory and analgesic agents due to its ability to interact with specific enzyme targets. Additionally, it serves as a key precursor in the preparation of organic materials, such as liquid crystals and polymers, where its conjugated system contributes to desirable electronic and optical properties. Its application extends to research and development in medicinal chemistry, where it is explored for its potential in designing novel therapeutic agents.