Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of anticoagulants and vitamin K antagonists. It serves as a building block in organic synthesis due to its reactive acetyl and dione functionalities, enabling condensation and cyclization reactions. Commonly employed in the preparation of coumarin derivatives, which have applications in drugs, dyes, and fluorescent probes. Its stability and reactivity profile make it suitable for use in controlled laboratory-scale reactions and industrial processes requiring selective functionalization.