Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) with anti-inflammatory and analgesic properties. Its structure allows for functional modifications that enhance drug stability and bioavailability. Also employed in agrochemical formulations for the production of herbicides and plant growth regulators due to its ability to influence metabolic pathways in plants. Additionally, it serves as a building block in organic synthesis for creating complex furan-based compounds used in specialty chemicals and research.