Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and antimicrobial agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building more complex molecules. It is also employed in agrochemical research for designing new pesticides and herbicides due to its stability and reactivity. Additionally, it serves as a building block in heterocyclic chemistry for creating furan-based compounds with potential biological activity.