This chemical is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. Its structure, featuring both formyl and ester functional groups, makes it versatile in constructing heterocyclic compounds, particularly in pharmaceutical research. It is often employed in the synthesis of pyrazole derivatives, which are known for their biological activities, including anti-inflammatory, antimicrobial, and anticancer properties. Additionally, it serves as a building block in agrochemical research for designing novel pesticides and herbicides. Its reactivity allows for further modifications, making it valuable in medicinal chemistry for drug discovery and development.