Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals, agrochemicals, and dyes. It participates in Knoevenagel condensation and other carbon-carbon bond-forming reactions due to the active methylene group. Commonly employed in the synthesis of cyanoacrylate monomers, which are precursors to superglue. Also utilized in fragrance and flavor industries for creating ester-based aroma compounds. Its ability to undergo hydrolysis and decarboxylation makes it valuable in multi-step synthetic pathways for fine chemicals.