This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of polymers and specialty chemicals. Its structure, featuring both ester and ether functional groups, makes it valuable for modifying the properties of materials, such as enhancing flexibility or improving solubility. It is also employed in the development of biodegradable plastics and coatings, where its ability to degrade under specific conditions is advantageous. Additionally, it finds application in the pharmaceutical industry for synthesizing drug delivery systems, where its functional groups can be utilized to create controlled-release formulations.