Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals, agrochemicals, and dyes. Its active methylene group allows for easy functionalization, making it valuable in condensation reactions and the formation of heterocyclic compounds. It is also employed in the production of specialty polymers and coatings, where it contributes to film formation and stability. Due to its solvating properties, it finds use in solvent systems for resins and cellulose esters. Additionally, it acts as a precursor in the synthesis of beta-keto esters used in fragrance and flavor development.