Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of active ingredients that contain thiophene rings. It serves as a building block in organic reactions, including esterification and cross-coupling processes, to develop compounds with biological activity. Commonly employed in the development of antifungal agents, anti-inflammatory drugs, and certain herbicides due to its reactivity and structural properties. Also utilized in the preparation of specialty polymers and ligands for catalysis.