Used as a flavoring agent in food products due to its fruity, balsamic aroma. Also serves as an intermediate in the synthesis of pharmaceuticals and agrochemicals. Employed in organic synthesis for constructing heterocyclic compounds, particularly furan derivatives with roles in drug research and bioactive compound development. Can be found in the production of fragrances and perfumes for its pleasant scent. Investigated for use in renewable platform chemicals derived from biomass. Additionally, utilized in materials science research to develop molecules with special properties such as luminescence or electrical conductivity.