Used primarily in organic synthesis, this compound serves as a key intermediate in the production of fine chemicals and pharmaceuticals. Its structure, featuring both an ethoxy group and a carboxylic acid, makes it versatile for constructing complex molecules. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) where the benzoic acid moiety can enhance binding affinity or modify pharmacokinetic properties. Additionally, it finds utility in the synthesis of liquid crystals and advanced materials due to its ability to influence molecular alignment and stability. Its role in cross-coupling reactions also makes it relevant in the field of material science for creating polymers with specific electronic or optical properties.