Used primarily as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. Its functional groups enable participation in condensation and cyclization reactions, making it valuable for constructing heterocyclic compounds. Commonly employed in the synthesis of beta-keto esters and derivatives used in drug development, including anticoagulants and anti-inflammatory agents. Also utilized in the preparation of flavor and fragrance compounds due to its ester functionality and reactivity.