This chemical is primarily used in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs). It serves as a key intermediate in creating compounds that help reduce inflammation, pain, and fever. Additionally, it is utilized in the development of certain cosmetic products, where it contributes to skin conditioning and stabilization. Its properties also make it suitable for research applications in organic chemistry, particularly in studying reaction mechanisms and developing new synthetic pathways.