This compound is primarily used in organic synthesis as a building block for the development of more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target various diseases. Its isoxazole ring structure is valuable in medicinal chemistry due to its potential biological activity. Additionally, it is utilized in agrochemical research for creating compounds that may act as pesticides or herbicides. Its ester functional group allows for further chemical modifications, making it versatile in the design of novel compounds for both industrial and research applications.