This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure, featuring both an acrylic acid and an acetoxy group, makes it a versatile building block for creating more complex molecules. In medicinal chemistry, it is often employed in the development of anti-inflammatory and analgesic drugs due to its ability to modulate specific biological pathways. Additionally, it finds application in the synthesis of UV-absorbing materials, which are used in coatings and sunscreens to protect against harmful ultraviolet radiation. Its reactivity also allows it to be used in polymer chemistry, where it can be incorporated into polymers to enhance their properties, such as flexibility and durability.