Used in organic synthesis as a versatile building block for creating complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of heterocyclic compounds, which are essential in drug discovery. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to form stable, colored derivatives. Its anhydride functionality allows for easy modification, making it valuable in polymer chemistry for creating specialized resins and coatings.