Used primarily as an intermediate in organic synthesis, it plays a key role in the production of various pharmaceuticals and agrochemicals. Its reactivity with amines and alcohols makes it valuable for creating amides and esters, which are essential in drug development. Additionally, it is utilized in the synthesis of liquid crystals, which are critical components in display technologies like LCDs. Its applications also extend to the field of specialty chemicals, where it is employed in the manufacture of dyes and pigments.