This chemical is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. Its structure, featuring both a formyl group and a benzoate ester, makes it suitable for reactions like condensation, cyclization, and coupling processes. It is often employed in the synthesis of heterocyclic compounds, which are valuable in pharmaceutical research for creating potential drug candidates. Additionally, its furan and benzoate components contribute to its use in materials science, particularly in the design of organic semiconductors and polymers with specific electronic properties. Its versatility also extends to the field of agrochemicals, where it can be used to develop novel compounds for crop protection.