Used primarily as an intermediate in organic synthesis, this compound is valuable in the production of complex molecules, particularly in pharmaceutical research. It serves as a building block for creating various heterocyclic compounds, which are crucial in developing active pharmaceutical ingredients. Additionally, it is employed in the synthesis of dyes and pigments, contributing to the coloration of materials in industrial applications. Its halogenated structure makes it a useful reagent in cross-coupling reactions, facilitating the formation of carbon-carbon bonds in advanced chemical processes.