Used as an intermediate in the synthesis of pharmaceuticals, dyes, and agrochemicals. Serves as a key building block in the production of pyrazolones and other heterocyclic compounds. Employed in the manufacture of UV absorbers and light stabilizers for plastics and coatings. Also utilized in fragrance formulations due to its fruity, apple-like odor, making it valuable in the flavor and perfume industry. Its reactivity allows for easy modification in organic synthesis, particularly in condensation and cyclization reactions.