Methyl benzofuran-4-carboxylate is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceutical compounds. Its structure makes it valuable in the development of drugs targeting neurological disorders, as it can be modified to create molecules with potential therapeutic effects. Additionally, it is employed in the synthesis of agrochemicals, where it contributes to the creation of pesticides and herbicides. The compound is also explored in material science for the development of organic electronic materials, such as light-emitting diodes (LEDs) and sensors, due to its aromatic and conjugated system. Its versatility in chemical reactions makes it a useful building block in research and industrial applications.