This compound is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of complex molecules, particularly in the synthesis of heterocyclic compounds, which are crucial in pharmaceutical and agrochemical industries. Its structure allows it to participate in various condensation and cyclization reactions, making it valuable for constructing carbon frameworks. Additionally, it serves as a precursor in the production of fine chemicals and specialty materials, where its ethoxy and ester functional groups enable diverse chemical transformations. Its role in facilitating multi-step synthetic routes underscores its importance in research and industrial applications.