Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of anti-inflammatory and antimicrobial compounds. Its structure supports the creation of biologically active molecules, making it valuable in medicinal chemistry research. Also employed in agrochemical formulations for crop protection due to its ability to enhance the efficacy of certain pesticides. Its carboxylic acid functionality allows for easy derivatization, enabling the production of esters and amides for structure-activity relationship studies.