Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of heterocyclic compounds, which are essential in medicinal chemistry for creating drugs with therapeutic properties. Additionally, it finds application in the synthesis of agrochemicals, contributing to the formulation of pesticides and herbicides. The ester functional group in the molecule enhances its reactivity, making it suitable for further chemical modifications in research and industrial processes.