Used as a key intermediate in organic synthesis, particularly in the preparation of heterocyclic compounds and pharmaceuticals. Its bifunctional nature—containing both ester and ketone groups—enables participation in condensation and cyclization reactions. Commonly employed in the synthesis of beta-keto ester derivatives, which are building blocks for drugs involving GABA analogs or anticonvulsant agents. Also utilized in the development of agrochemicals and specialty polymers due to its reactivity and ability to form stable intermediates under mild reaction conditions.