Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its aldehyde group makes it reactive, enabling it to participate in various condensation and coupling reactions. It is particularly valuable in the synthesis of heterocyclic compounds, which are often found in drugs targeting neurological and metabolic disorders. Additionally, it is utilized in the development of ligands for metal catalysis, enhancing the efficiency of chemical transformations in industrial processes. Its ethoxy group provides stability and influences the electronic properties of the final products, making it a versatile building block in fine chemical manufacturing.