Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antidiabetic and antihypertensive drugs. Its structure allows for easy functionalization, making it valuable in creating active pharmaceutical ingredients (APIs) with enhanced biological activity. Also employed in agrochemicals for the production of herbicides and fungicides due to its stability and reactivity. Commonly utilized in research and development of new organic compounds, especially in heterocyclic chemistry for building complex thiophene-based molecules.