This chemical is primarily utilized in organic synthesis as a building block for the creation of more complex molecules. It is often employed in the development of pharmaceuticals, where its structure can be modified to produce active drug compounds. Additionally, it serves as a precursor in the synthesis of organic materials, including polymers and dyes, due to its reactive ester groups. Its thiophene core makes it valuable in the production of conductive materials and electronic components, where such heterocyclic compounds are essential. Researchers also use it in the study of chemical reactions and mechanisms, particularly those involving thiophene derivatives.