Methyl 3-methylbenzofuran-2-carboxylate is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceutical compounds. Its structure is particularly valuable in the development of drugs targeting neurological disorders, as it can be modified to create molecules with potential therapeutic effects. Additionally, this compound is employed in the synthesis of agrochemicals, where it contributes to the creation of pesticides and herbicides with enhanced efficacy. Its role in material science is also notable, as it serves as a precursor for the development of organic electronic materials, including light-emitting diodes (LEDs) and photovoltaic cells. The compound's versatility in forming complex structures makes it a valuable asset in research and industrial applications.