This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its unique structure, featuring both ester and diene functionalities, makes it valuable for constructing cyclic compounds and facilitating various cycloaddition reactions. Additionally, it is employed in the development of pharmaceuticals, particularly in the synthesis of bioactive molecules with potential therapeutic applications. Its reactivity also lends itself to use in polymer chemistry, where it can be incorporated into the design of specialized polymers with tailored properties.