Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its unique structure allows it to participate in cyclization and ring-opening reactions, making it valuable for constructing complex molecular frameworks. Additionally, it is employed in the development of specialty chemicals, including dyes and polymers, where its reactivity can be tailored to achieve specific properties. In research, it is utilized to study reaction mechanisms and develop novel synthetic pathways.