Magnesium 3-ethoxy-3-oxopropanoate is primarily utilized in the pharmaceutical and chemical industries. In pharmaceuticals, it acts as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs), particularly those involving magnesium-based compounds. Its role in chemical synthesis includes serving as a reagent or catalyst in organic reactions, aiding in the formation of complex molecules. Additionally, it finds application in research and development for studying magnesium's role in biochemical processes and its potential therapeutic effects. Its stability and reactivity make it a valuable component in the production of specialized chemicals and materials.