Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. Commonly employed in the preparation of coumarin derivatives, which exhibit biological activities such as anticoagulant, antimicrobial, and anti-inflammatory properties. Also utilized in the development of dyes and fluorescent probes due to its ability to participate in condensation reactions forming conjugated systems. Its hydroxyl and aldehyde functional groups make it suitable for use in coordination chemistry as a ligand precursor in metal-organic frameworks and catalysts.