Used primarily in the synthesis of agrochemicals and pharmaceuticals, this compound serves as a key intermediate. In agrochemicals, it is utilized to develop herbicides and pesticides, offering effective control over a variety of weeds and pests. In the pharmaceutical industry, it plays a crucial role in the creation of active pharmaceutical ingredients (APIs) for medications targeting specific diseases. Its unique chemical structure allows for the introduction of functional groups that enhance the efficacy and selectivity of the final products. Additionally, it is employed in research and development for exploring new chemical entities with potential therapeutic or agricultural benefits.