This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the production of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) for various therapeutic agents. Its structure is valuable for constructing complex molecules, especially those containing pyran rings, which are common in many bioactive compounds. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides. Its reactivity and functional groups make it a useful building block in research and industrial applications for designing and synthesizing novel compounds.