Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of pyrazole derivatives which exhibit biological activity. It serves as a building block in heterocyclic chemistry due to its active carbonyl and ester groups, enabling condensation and cyclization reactions. Commonly employed in the preparation of insecticides and herbicides, it contributes to the development of crop protection agents. Also utilized in research laboratories for constructing complex organic molecules through selective functional group transformations.