Used as a key intermediate in organic synthesis, particularly in the preparation of heterocyclic compounds. Its structure allows for facile modification in the development of pharmaceuticals and agrochemicals. Commonly employed in condensation reactions to form furan-containing derivatives, which are important in the synthesis of bioactive molecules. Also utilized in the production of flavor and fragrance compounds due to its reactive carbonyl and ester functionalities. Serves as a building block in the fabrication of functional materials and specialty chemicals.