This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. It is often employed in the preparation of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its structure, featuring both a formyl group and an ester moiety, makes it versatile for various chemical reactions, including condensation and coupling reactions. Additionally, it is used in the production of organic electronic materials, such as conductive polymers and dyes, due to its thiophene and aromatic benzoate components, which are essential for enhancing electronic properties. Researchers also explore its application in the creation of advanced materials for sensors and optoelectronic devices.