This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of complex molecules, particularly in the synthesis of pyrrole derivatives, which are important in medicinal chemistry. Its structure makes it valuable for constructing biologically active compounds, including potential drug candidates targeting various diseases. Additionally, it is used in the study of heterocyclic chemistry to explore new reactions and pathways for creating novel chemical entities. Its ester and methoxy groups provide versatility for further functionalization, making it a useful building block in the design of specialized organic materials.