Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and anticoagulant agents. Its α,β-unsaturated ester structure with a cyano group enables participation in Michael addition reactions, making it valuable in organic synthesis for building carbon-carbon bonds. Also employed in the preparation of heterocyclic compounds such as pyridines and pyrimidines, which are common scaffolds in medicinal chemistry. Additionally, it serves as a monomer or building block in specialty polymers and functional materials due to its conjugated system and reactivity.