This compound is primarily used in organic synthesis as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows it to participate in reactions that form more complex molecules, particularly in the development of active ingredients for drugs targeting specific diseases. Additionally, it serves as a building block in the synthesis of thiophene derivatives, which are valuable in materials science for creating conductive polymers and organic semiconductors. Its versatility in chemical reactions makes it a valuable component in research and industrial applications.