Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of imidazole-containing drugs which exhibit antifungal, antihistaminic, and anticancer activities. It serves as a building block in agrochemicals for creating fungicides and plant growth regulators due to the bioactive nature of the imidazole ring. Also employed in the preparation of ionic liquids and functional materials where the ester group allows for further chemical modifications. Its reactivity makes it valuable in organic synthesis for constructing nitrogen heterocycles.