Used primarily as an intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals, agrochemicals, and fine chemicals. Its structure allows it to participate in various reactions, such as alkylation and condensation, making it valuable for constructing complex molecules. In the pharmaceutical industry, it is often utilized in the synthesis of active pharmaceutical ingredients (APIs) due to its ability to introduce specific functional groups. Additionally, it finds application in the development of fragrances and flavors, where its ester groups contribute to the creation of unique aromatic compounds. Its versatility and reactivity make it a crucial component in industrial and laboratory settings.