Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of pharmaceuticals and agrochemicals. It is also employed in the manufacture of dyes and pigments, where its chemical properties facilitate the creation of complex colorants. Additionally, it serves as a precursor in the synthesis of various specialty chemicals, including those used in the electronics industry for the development of advanced materials. Its versatility in chemical reactions makes it valuable in research and industrial applications, particularly where precise molecular transformations are required.