Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in click chemistry reactions due to the presence of the 1,2,3-triazole ring. It serves in the development of bioactive molecules, including antifungal, antibacterial, and anticancer agents. Its ester functionality allows for easy modification, making it valuable in medicinal chemistry for building molecular diversity. Also employed in materials science for creating functional polymers and ligands in catalysis.