Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) and related compounds. Its structure allows for easy functionalization, making it valuable in constructing heterocyclic systems. Commonly employed in organic synthesis to build complex molecules through condensation, cyclization, and nucleophilic reactions. Also utilized in the preparation of dyes and specialty esters due to its reactive keto and ester groups.