This chemical is primarily used in organic synthesis as an intermediate for the production of more complex compounds. It is particularly valuable in the synthesis of pharmaceuticals and fine chemicals due to its reactive functional groups, which allow for further chemical modifications. In research and development, it serves as a building block for creating molecules with potential biological activity. Additionally, it can be utilized in the preparation of polymers and coatings, where its ester groups contribute to the material's properties. Its application in the field of material science includes the development of advanced materials with specific mechanical or chemical characteristics.