Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of complex molecules. In pharmaceutical research, it is employed to create potential drug candidates, particularly in the synthesis of compounds with antimicrobial or antifungal properties. Additionally, it finds application in the synthesis of dyes and pigments, contributing to the production of specialized colorants for industrial use. Its reactivity with other organic compounds also makes it useful in material science for creating advanced polymers or coatings.