Used primarily as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its hydroxyl and ester functional groups allow for selective transformations, making it valuable in constructing complex molecules. Commonly employed in the synthesis of heterocyclic compounds and prodrugs due to its ability to enhance solubility and bioavailability. Also utilized in the development of biodegradable polymers and plasticizers, where its structure contributes to improved flexibility and stability. Its reactivity supports use in esterification, oxidation, and cyclization reactions in research and industrial settings.