Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of bioactive molecules with potential antifungal, antibacterial, or anti-inflammatory properties. Its structure serves as a building block in heterocyclic chemistry, enabling the construction of more complex furan-based compounds. Commonly employed in research settings for the preparation of benzofuran derivatives, which are of interest in medicinal chemistry due to their presence in various drug candidates and functional materials.