Used primarily in the pharmaceutical and agrochemical industries, this compound serves as a key intermediate in the synthesis of various active ingredients. In pharmaceuticals, it is utilized in the development of drugs targeting neurological disorders, inflammation, and certain types of cancer due to its structural properties that enhance binding affinity and selectivity. In agrochemicals, it plays a role in creating pesticides and herbicides, offering improved efficacy and environmental safety. Its unique chemical structure also makes it valuable in organic synthesis for producing complex molecules in research and industrial applications.