Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of anti-inflammatory and analgesic agents. It also serves as a building block in the preparation of UV-absorbing compounds for use in sunscreens and protective coatings. Its hydroxy and carboxylic acid groups allow for easy functionalization, making it valuable in organic synthesis and polymer chemistry. Additionally, it has been explored in the design of biodegradable chelating agents due to its ability to bind metal ions.