Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of thiophene-based active ingredients. It serves in the development of certain fungicides and herbicides due to the stability and bioavailability conferred by the thiophene ring. Also employed in organic synthesis for constructing heterocyclic compounds with potential biological activity. Its carboxylic and keto functional groups allow for diverse chemical modifications, making it valuable in medicinal chemistry research and the design of specialty chemicals.