Used primarily as an intermediate in organic synthesis, especially in the production of pharmaceuticals and agrochemicals. It serves as a building block in the development of more complex molecules due to its reactive acetyl and furan groups. Commonly employed in the synthesis of flavonoids and other biologically active compounds. Also utilized in fragrance formulations for its sweet, balsamic odor, making it valuable in the flavor and perfume industry. Shows potential in research related to fluorescent dyes and optoelectronic materials because of its aromatic structure and light-emitting properties under certain conditions.