Used in organic synthesis as a key intermediate for the development of various pharmaceuticals and bioactive compounds. It is particularly valuable in the preparation of furan derivatives, which exhibit potential therapeutic properties such as anti-inflammatory, antimicrobial, and anticancer activities. Additionally, it serves as a building block in the synthesis of complex organic molecules for material science applications, including the development of organic semiconductors and optoelectronic materials. Its unique structure allows for further functionalization, making it a versatile component in chemical research and industrial processes.