This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of certain drugs and active pharmaceutical ingredients (APIs). Its structure allows for further chemical modifications, making it valuable in creating complex molecules with specific therapeutic properties. Additionally, it is used in research and development for exploring new chemical reactions and pathways, contributing to advancements in medicinal chemistry. Its role in the synthesis of dyes and pigments also makes it relevant in the field of material science, where it aids in the development of colorants with desired properties.