Used primarily as an intermediate in organic synthesis, this compound serves in the production of pharmaceuticals, agrochemicals, and specialty esters. Its ester functionality allows for easy transformation into beta-keto esters or substituted malonates, which are key building blocks in drug development. It is also employed in the preparation of fragrances and flavoring agents due to its ability to undergo controlled hydrolysis and condensation reactions. Additionally, it finds use in polymer chemistry as a monomer or cross-linking agent in certain resin formulations.