Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antidiabetic and anti-inflammatory agents. Its structure supports the formation of heterocyclic compounds that are key in drug design. The presence of carboxylic acid and acetyl groups on the thiophene ring facilitates further reactions, such as amide formation with amines or reduction of the carbonyl to alcohols. Also employed in the preparation of organic semiconductors due to the thiophene ring, which enhances electronic properties in conjugated systems. Additionally, it serves as a building block in agrochemicals for creating active ingredients in crop protection products.