Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of active pharmaceutical ingredients (APIs) where its aldehyde and lactone functionalities allow for selective chemical modifications. Its structure supports ring-forming reactions and is valuable in creating heterocyclic compounds. Commonly employed in research settings for constructing complex organic molecules, including those with biological activity. Also utilized in the preparation of fluorescent probes and dyes due to its aromatic and electron-withdrawing characteristics.