This compound is primarily utilized in the synthesis of chiral molecules, serving as a key intermediate in the production of pharmaceuticals and fine chemicals. Its chiral nature makes it valuable in asymmetric synthesis, where it helps create enantiomerically pure substances. Additionally, it is employed in the development of agrochemicals and fragrances, contributing to the creation of specific stereoisomers that enhance product efficacy and sensory properties. Its furan ring structure also makes it a useful building block in organic chemistry for constructing more complex heterocyclic compounds.