Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals due to its reactive aldehyde and chloromethyl functional groups. The compound enables the formation of carbon-carbon and carbon-heteroatom bonds, making it valuable in constructing heterocyclic systems. It is particularly useful in the development of antifungal agents, antiviral compounds, and bioactive furan derivatives. Its dual reactivity allows for sequential derivatization, supporting its role in medicinal chemistry and drug discovery processes.