This compound is primarily utilized in organic synthesis as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure, featuring both cyano and methoxy groups, makes it a versatile building block for constructing complex molecules. It is often employed in the development of active pharmaceutical ingredients (APIs) where the benzoate core is essential. Additionally, it finds application in the synthesis of dyes and pigments due to its ability to modify color properties. Researchers also use it in the preparation of advanced materials, particularly in the field of polymer chemistry, where it can act as a monomer or a functional additive to enhance material properties.