Used in organic synthesis as a building block for pharmaceuticals and fine chemicals due to its reactive vinyl and ester functional groups. The compound participates in polymerization reactions, making it useful in the development of specialty polymers and copolymers with tailored properties. It is also employed in cross-coupling reactions and Heck reactions to construct complex aromatic structures. Its ability to undergo addition and cyclization reactions makes it valuable in the synthesis of intermediates for agrochemicals, dyes, and functional materials.