Primarily utilized in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs. Its structure is particularly valuable in the development of analgesics and anti-inflammatory medications, where it contributes to the efficacy and stability of the final product. Additionally, it finds application in organic synthesis, aiding in the creation of complex molecules for research and industrial purposes. Its role in the preparation of specialized dyes and pigments is also noteworthy, enhancing colorfastness and durability in textile and material coatings.