Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It participates in Knoevenagel condensation reactions to form α,β-unsaturated compounds, which are building blocks for dyes, fragrances, and UV absorbers. Also employed in the synthesis of cyanoacrylate monomers used in specialty adhesives. Its ester group and active methylene unit make it valuable in constructing carbon-carbon bonds in fine chemical manufacturing.