Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a building block for heterocyclic compounds due to its active methylene group, which readily undergoes condensation and alkylation reactions. Commonly employed in the synthesis of antibiotics and antifungal agents. Also utilized in the development of specialty polymers and UV stabilizers for plastics due to its cyclic carbonate-like structure. Its reactivity makes it valuable in creating complex molecules in medicinal chemistry research.