Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of pyrrole-based bioactive compounds. Its ester functionality allows for further chemical modifications, making it valuable in constructing complex heterocyclic systems. Commonly employed in research settings for creating analogs in drug discovery programs, especially targeting central nervous system agents and kinase inhibitors. Also utilized in the preparation of functional materials and ligands for catalysis due to its stable aromatic core and reactive sites.