Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs. It is particularly valuable in the development of compounds with potential therapeutic effects, such as anti-inflammatory and analgesic agents. Additionally, it finds application in organic synthesis, where it acts as a building block for more complex molecules in research and industrial settings. Its role in the creation of dyes and pigments also makes it relevant in the manufacturing of coloring agents for textiles and other materials.