Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of dyes and pigments, particularly in the creation of complex colorants for textiles and inks. It is also employed in the pharmaceutical industry for the synthesis of various active pharmaceutical ingredients (APIs), contributing to the development of medications with specific therapeutic effects. Additionally, it finds application in research laboratories as a reagent for chemical reactions, aiding in the study and development of new compounds and materials. Its versatility makes it valuable in both industrial and academic settings.