Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of thiophene-based compounds, which are often utilized in medicinal chemistry for their bioactive properties. Additionally, it plays a role in the synthesis of materials for electronic applications, particularly in the creation of organic semiconductors and conductive polymers. Its versatility in chemical reactions makes it a useful building block in research and industrial processes.