This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of pharmaceuticals and agrochemicals. Its structure makes it a valuable intermediate in the production of heterocyclic compounds, which are often key components in drugs targeting specific biological pathways. Additionally, it is employed in research settings for the development of novel materials, such as organic semiconductors, due to its ability to modify electronic properties. Its carboxylic acid group allows for further functionalization, making it versatile in creating complex molecules for diverse applications.