Used primarily in the synthesis of pharmaceuticals and organic compounds, it serves as a key intermediate in the production of various active pharmaceutical ingredients (APIs). Its structure is particularly useful in the development of compounds with potential therapeutic effects, such as anti-inflammatory and analgesic agents. Additionally, it is employed in research settings for the preparation of heterocyclic compounds, which are valuable in medicinal chemistry for drug discovery and development. Its role in organic synthesis also extends to the creation of dyes and pigments, contributing to the chemical industry's applications in coloring agents.