Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for easy functionalization, making it valuable in constructing complex organic compounds. Commonly employed in Perkin and Knoevenagel reactions to form C=C bonds in heterocyclic systems. Also utilized in the development of dyes and optical brighteners due to its conjugated system and electron-withdrawing properties. Serves as a building block in agrochemicals for creating herbicides and insecticides with improved efficacy. Its versatility in Michael additions and cycloaddition reactions supports its use in medicinal chemistry research and development.