This compound is primarily utilized in the field of organic synthesis as an intermediate for the production of more complex chemical structures. It serves as a key building block in the development of dyes and pigments, particularly for applications in textile and paper industries where specific color properties are required. Additionally, it is employed in the research and development of pharmaceuticals, where it acts as a precursor in the synthesis of compounds with potential therapeutic effects. Its role in these processes is critical due to its ability to introduce specific functional groups into target molecules, enabling the creation of materials with desired chemical and physical properties.