Widely used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its structure allows for ring-opening and functionalization reactions, making it valuable in constructing nitrogen- and oxygen-containing heterocycles. Commonly employed in the synthesis of bioactive molecules, including antimicrobial, anti-inflammatory, and central nervous system agents. Also utilized in the development of dyes and functional polymers due to its reactivity and stability under various reaction conditions.