Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block for the synthesis of β-keto ester analogs and can participate in condensation reactions to form heterocyclic compounds. Commonly applied in research settings for developing active pharmaceutical ingredients (APIs) due to its reactive keto and carboxylate functional groups. Also utilized in the production of fragrances and flavoring agents where aromatic ketone derivatives are required.