This chemical is primarily used in organic synthesis as an intermediate for the production of various heterocyclic compounds. Its structure, featuring a chromene core with functional groups like ester and acetate, makes it valuable in the development of pharmaceuticals, particularly in the synthesis of bioactive molecules. It is also explored in the creation of fluorescent dyes and optical materials due to its chromene moiety, which can exhibit luminescent properties. Additionally, it serves as a precursor in the synthesis of coumarin derivatives, which are widely used in fragrances, cosmetics, and medicinal applications due to their anticoagulant, anti-inflammatory, and antimicrobial properties.