Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a key reagent in condensation reactions, such as the Knoevenagel condensation, to form carbon-carbon bonds. Commonly employed in the synthesis of heterocyclic compounds like pyrazoles and pyrimidines, which are core structures in many bioactive molecules. Also utilized in the production of dyes and pigments due to its ability to form conjugated systems. Its enolate stability makes it valuable in alkylation reactions under mild conditions.