Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various dyes and pigments, contributing to vibrant and long-lasting colors in textiles and industrial materials. It is also employed in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs), particularly in the development of compounds with potential therapeutic effects. Additionally, it serves as a building block in agrochemical research, aiding in the creation of pesticides and herbicides to enhance crop protection and yield. Its versatility in chemical reactions makes it valuable in academic and industrial laboratories for exploring new synthetic pathways and developing innovative chemical products.