Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its reactive functional groups, which facilitate the creation of complex molecular structures. Additionally, it finds application in research laboratories for studying chemical reactions and mechanisms, aiding in the discovery of new compounds with potential therapeutic or agricultural benefits. Its versatility makes it a useful building block in the synthesis of specialty chemicals.