This compound is primarily utilized in the synthesis of organic materials and intermediates for pharmaceutical applications. It serves as a key building block in the development of various biologically active molecules, particularly in the creation of chromene derivatives, which are known for their therapeutic properties. Its structural framework is often incorporated into compounds exhibiting antioxidant, anti-inflammatory, and anticancer activities. Additionally, it is used in research settings to study the chemical and biological properties of chromenone derivatives, aiding in the discovery of novel drug candidates. Its applications also extend to the field of materials science, where it contributes to the development of organic dyes and fluorescent probes.