This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block for creating more complex molecules due to its reactive ester and cyclic ether functional groups. In the pharmaceutical industry, it is utilized in the synthesis of active pharmaceutical ingredients (APIs) and drug candidates, where its structure can be modified to achieve desired biological activity. Additionally, it finds application in the development of agrochemicals, such as pesticides and herbicides, where its derivatives can exhibit specific properties for crop protection. Its versatility in chemical reactions also makes it valuable in research and development for exploring new compounds and materials.