Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals, agrochemicals, and specialty chemicals. Its structure allows it to be a key building block in the development of active pharmaceutical ingredients (APIs), particularly in the synthesis of compounds with potential therapeutic effects. Additionally, it is employed in the manufacture of dyes, pigments, and other fine chemicals, where its functional groups enable specific reactivity and desired properties in the final products. Its applications also extend to research and development, where it serves as a valuable reagent in exploring new chemical reactions and pathways.