Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of heterocyclic systems and flavoring agents. Its diketone structure allows for cyclization reactions, making it valuable in the development of pharmaceuticals and agrochemicals. It can also function as a building block in the synthesis of fragrances due to its ability to undergo condensation and reduction reactions that yield odor-active molecules. Additionally, it has been explored in the formulation of specialty polymers where controlled chain length and functional group positioning are required.