Methyl 4-hydroxybenzofuran-5-carboxylate is primarily utilized in the field of organic synthesis as a key intermediate for the development of more complex chemical compounds. Its structure is particularly valuable in the synthesis of pharmaceuticals, where it serves as a building block for active pharmaceutical ingredients (APIs) that target various diseases. Additionally, it finds application in the production of agrochemicals, contributing to the formulation of pesticides and herbicides that enhance crop protection. The compound is also explored in material science for the creation of novel polymers and coatings, leveraging its unique chemical properties to improve material performance. Furthermore, it is studied in academic and industrial research for its potential in developing new chemical entities with diverse biological activities.