This compound is primarily utilized in organic synthesis as a diene in Diels-Alder reactions, where it reacts with dienophiles to facilitate the formation of complex cyclic structures. Its unique structure, featuring electron-withdrawing ester groups, modulates reactivity, making it valuable in the synthesis of polycyclic aromatic compounds, often followed by decarbonylation to yield aromatic products. Additionally, it serves as a key intermediate in the production of specialized polymers and materials with tailored electronic properties. Its application extends to the development of organic semiconductors and advanced materials for optoelectronic devices.