Used primarily in the pharmaceutical industry, this compound serves as an intermediate in the synthesis of various drugs, particularly those targeting pain relief and inflammation. It is also employed in the development of agrochemicals, contributing to the creation of pesticides and herbicides that protect crops from pests and diseases. Additionally, it finds application in organic synthesis, aiding in the production of complex molecules for research and industrial purposes. Its role in these fields underscores its importance in advancing both medical and agricultural sciences.