Used primarily as an intermediate in the synthesis of dyes and pigments, this compound plays a crucial role in producing vibrant and stable colors for textiles and inks. It is also employed in the development of agrochemicals, contributing to the creation of herbicides and pesticides that protect crops from pests and weeds. Additionally, it finds application in pharmaceutical research, where it serves as a building block for synthesizing various active pharmaceutical ingredients (APIs) aimed at treating diseases. Its versatility in organic synthesis makes it valuable in producing complex molecules for industrial and scientific purposes.