This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. Its functional groups, including the formyl and carboxylate moieties, make it valuable in the construction of pharmaceuticals, particularly in the synthesis of piperidine-based compounds, which are common in medicinal chemistry. It is also employed in the preparation of ligands for catalysis and in the design of polymers with specific properties. Its stability and reactivity allow for efficient modifications, making it a useful building block in research and industrial applications.