This chemical is primarily utilized in organic synthesis as a key intermediate for the production of various heterocyclic compounds. Its furan and dione functional groups make it a versatile building block in the development of pharmaceuticals, particularly in the synthesis of bioactive molecules with potential therapeutic applications. Additionally, it is employed in the creation of agrochemicals, where it contributes to the development of compounds with pesticidal or herbicidal properties. Its reactivity also allows for its use in material science, particularly in the design of organic electronic materials and polymers.