Used primarily as an intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). It is also utilized in the manufacture of specialty chemicals, including catalysts and ligands, which are essential in various chemical reactions. Additionally, it finds application in the creation of advanced materials, such as polymers and resins, where it contributes to enhancing specific properties like thermal stability and mechanical strength. Its derivatives are often employed in agrochemicals, aiding in the formulation of pesticides and herbicides.