Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals due to its reactive diketone functionality. The compound serves in the preparation of heterocyclic compounds, especially in the development of bioactive molecules with potential antimicrobial and anti-inflammatory properties. Its furan ring enhances electron richness, making it suitable for condensation reactions in the production of dyes and functional materials. Also employed in research for developing novel organic compounds with tailored biological activity.