This chemical is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. Its furan ring structure makes it a valuable building block for creating more complex molecules, particularly in the development of heterocyclic compounds. It is also employed in the synthesis of flavoring agents and fragrances, contributing to the unique aromatic profiles in food and cosmetic products. Additionally, its reactivity allows it to be used in research and development for exploring new chemical reactions and pathways in organic chemistry.