Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of active pharmaceutical ingredients (APIs) where indanone derivatives exhibit biological activity. It serves as a building block in organic synthesis, enabling the construction of complex cyclic structures. Its reactivity makes it suitable for use in condensation reactions and cyclization processes, especially in the preparation of fragrances, dyes, and functional materials. Also explored in research for potential applications in medicinal chemistry due to the bioactive nature of its derivatives.