Primarily used as a reactive intermediate in organic synthesis, this compound facilitates the introduction of carboxy and methyl groups into various molecular structures. It is particularly valuable in the production of specialty chemicals, where it acts as a building block for more complex molecules. In pharmaceutical research, it serves as a precursor in the development of active pharmaceutical ingredients (APIs), aiding in the creation of novel drug candidates. Additionally, its application extends to the field of agrochemicals, where it contributes to the synthesis of herbicides and pesticides. Its versatility in chemical reactions makes it a useful component in industrial processes, enabling the modification of polymers and the enhancement of material properties.