This chemical is primarily utilized in the synthesis of various pharmaceutical compounds due to its structural properties. It serves as a key intermediate in the production of certain drugs, particularly those targeting cardiovascular and neurological conditions. Additionally, it is employed in the development of organic dyes and pigments, contributing to the coloration of materials in the textile and printing industries. Its role in organic synthesis also extends to the creation of fine chemicals and specialty polymers, enhancing the performance and functionality of end products.