Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block in the preparation of various heterocyclic compounds due to its active methylene group, which readily undergoes condensation and cyclization reactions. Commonly employed in the synthesis of cyanoacrylate derivatives and non-steroidal anti-inflammatory agents. Also utilized in the development of dyes and functional materials owing to its conjugated system and reactivity profile.