Used as a key intermediate in organic synthesis, particularly in the preparation of cyanoacrylate derivatives. It plays a role in the formation of specialty monomers for adhesives and coatings due to its ability to undergo condensation and cyclization reactions. Its reactivity with aldehydes and amines makes it valuable in constructing heterocyclic compounds for pharmaceuticals and agrochemicals. Additionally, it serves in research settings for developing novel functional materials with electronic or optical properties.