Used in organic synthesis as a building block for more complex molecules, particularly in the production of pharmaceuticals and agrochemicals. It serves as a key intermediate in the synthesis of furan derivatives, which are valuable in medicinal chemistry for developing drugs with antimicrobial, anti-inflammatory, or anticancer properties. Additionally, it is utilized in the preparation of flavoring agents and fragrances due to its furan ring structure, which imparts unique aromatic characteristics. Its reactivity also makes it suitable for research in developing novel chemical compounds with potential industrial applications.