This compound is primarily utilized in the synthesis of organic materials and pharmaceutical intermediates. Its chromene core structure makes it valuable in the development of bioactive molecules, particularly in the creation of compounds with potential anti-inflammatory, antioxidant, and anticancer properties. It is also employed in the preparation of fluorescent dyes and pigments due to its ability to absorb and emit light efficiently. Additionally, it serves as a key building block in the synthesis of heterocyclic compounds, which are widely used in medicinal chemistry and drug discovery. Its ester functional group further enhances its reactivity, making it a versatile reagent in organic synthesis.