Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of biologically active pyrazole derivatives. It serves in the preparation of agrochemicals and functional materials due to its ability to undergo ester hydrolysis and nucleophilic substitution reactions. Its structure allows for easy modification, making it valuable in medicinal chemistry for building heterocyclic compounds with potential anti-inflammatory, antimicrobial, or anticancer properties. Also employed in research for constructing complex molecules in organic synthesis.