Used primarily in organic synthesis, this compound serves as a versatile building block for creating complex molecules. It is particularly valuable in the production of pharmaceuticals, where it acts as an intermediate in the synthesis of various active ingredients. Additionally, it finds application in the development of agrochemicals, contributing to the creation of pesticides and herbicides. Its role in polymer chemistry is also notable, aiding in the modification of polymers to enhance their properties. The compound’s ability to act as a ligand in coordination chemistry further expands its utility in catalysis and material science.