Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals, agrochemicals, and fine chemicals. It plays a key role in Knoevenagel condensation reactions, forming carbon-carbon bonds to create unsaturated nitriles and carboxylic acid derivatives. Commonly employed in the synthesis of cyanoacrylate monomers, which are precursors to instant adhesives. Also utilized in the preparation of UV absorbers, dyes, and specialty polymers due to its reactive ester and nitrile functional groups. Its ability to undergo alkylation and Michael addition reactions makes it valuable in building complex molecular structures in medicinal chemistry.