Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of pyrazole-containing bioactive molecules. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for constructing heterocyclic compounds with potential anti-inflammatory, antimicrobial, or insecticidal properties. Commonly employed in research settings to build more complex molecules through ester hydrolysis, amidation, or nucleophilic substitution reactions.