Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of compounds with potential biological activity, such as inhibitors or modulators for specific enzymes or receptors. Additionally, it is utilized in research settings for the synthesis of novel chemical entities, aiding in the exploration of new therapeutic agents. Its role in the preparation of dyes and pigments also makes it relevant in industrial applications.