This chemical is primarily utilized in the synthesis of various pharmaceutical compounds. It serves as a key intermediate in the production of drugs that target specific biological pathways, particularly in the development of anti-inflammatory and analgesic medications. Its unique structure allows for effective modification, making it valuable in creating molecules with enhanced therapeutic properties. Additionally, it is used in agrochemical research to develop new pesticides and herbicides, contributing to improved crop protection and yield. Its role in organic synthesis also extends to the creation of dyes and pigments, where it aids in achieving desired color properties and stability.