Used as an intermediate in the synthesis of pharmaceuticals, particularly in the preparation of certain anti-inflammatory and analgesic agents. It serves as a building block for heterocyclic compounds due to the presence of both ester and ketone functional groups adjacent to a phenolic ring, enabling diverse chemical transformations. Commonly employed in the development of tyrosine kinase inhibitors and other bioactive molecules in medicinal chemistry research. Also utilized in the production of UV-absorbing compounds for use in coatings and specialty polymers.