This chemical is primarily utilized in organic synthesis as a key intermediate for the development of various heterocyclic compounds. Its structure, featuring both an aldehyde and an ester functional group, makes it a versatile building block in the synthesis of complex molecules, particularly in the pharmaceutical and agrochemical industries. It is often employed in the preparation of pyrrole derivatives, which are significant in the design of drugs and biologically active compounds. Additionally, it finds application in materials science for the development of specialized polymers and dyes, leveraging its reactive sites for further functionalization.