This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of complex molecules, particularly in the pharmaceutical industry, where it serves as a building block for the synthesis of active pharmaceutical ingredients (APIs). Its structure, featuring both an ester and an acetoxy group, makes it suitable for various chemical transformations, such as ester hydrolysis, transesterification, and Michael addition reactions. Additionally, it is used in the development of fine chemicals and specialty materials, contributing to the creation of polymers, coatings, and adhesives with specific functional properties. Its reactivity and stability under certain conditions make it a valuable component in multistep synthetic processes.