Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the production of various active ingredients. Its structure allows for further chemical modifications, making it valuable in the development of herbicides, fungicides, and other crop protection agents. Additionally, it plays a role in the creation of dyes and pigments, particularly in the textile industry, where its properties contribute to colorfastness and stability. In medicinal chemistry, it is utilized to design and synthesize compounds with potential therapeutic effects, such as anti-inflammatory or antimicrobial agents. Its versatility in organic synthesis makes it a crucial component in research and industrial applications.