Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its structure allows for versatile reactivity, making it valuable in constructing complex molecules through condensation and cyclization reactions. Commonly employed in the synthesis of heterocyclic compounds and beta-keto ester derivatives, which are found in bioactive molecules and drug candidates. Also utilized in flavor and fragrance industries due to its ability to form ester-based aroma compounds.