Used primarily as a reactive intermediate in organic synthesis, this compound serves as a building block for more complex esters and acrylic derivatives. Its alkyne and alkene functional groups allow participation in click chemistry, cross-coupling reactions, and polymerization processes. It is employed in the development of specialty monomers for advanced materials, including coatings and adhesives with tailored curing properties. Additionally, it finds use in pharmaceutical research for constructing molecular frameworks via selective transformations of its unsaturated bonds.