Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of thiophene-based active ingredients. It serves as a building block in organic reactions due to the presence of both hydroxyl and thiophene groups, enabling derivatization for functional materials. Commonly employed in the development of conducting polymers, dyes, and sensors. Also utilized in the preparation of ligands for catalysis and in the fabrication of organic semiconductors for electronic devices.