Used as a key intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It plays a crucial role in the formation of complex molecules due to its reactive cyanomethylene group. Additionally, it is utilized in the development of dyes and pigments, where its structure aids in creating stable and vibrant colors. Its ester groups make it valuable in polymer chemistry for modifying material properties. In research, it serves as a building block for studying reaction mechanisms and developing new synthetic pathways.