This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the field of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of various biologically active molecules. Additionally, it is employed in the development of flavoring agents and fragrances due to its unique aromatic properties. In material science, it is explored for creating polymers and resins with specific characteristics. Its furan-based structure also makes it a candidate for research in renewable chemicals and biofuels.