This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of compounds with potential biological activity, such as antifungal, antibacterial, and anti-inflammatory agents. Additionally, it is employed in the synthesis of heterocyclic compounds, which are crucial in the design of new drugs and active ingredients for crop protection. The ester functional group in its structure makes it a versatile building block for further chemical modifications, enabling the creation of diverse derivatives with tailored properties.