This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active compounds, particularly those targeting specific enzyme pathways or receptors. Its structure is often incorporated into molecules designed for therapeutic applications, such as anti-inflammatory, antimicrobial, or anticancer agents. Additionally, it is studied for its potential use in the synthesis of novel heterocyclic compounds, which are valuable in medicinal chemistry for their diverse pharmacological properties. Researchers also explore its role in the development of dyes and pigments due to its aromatic and heterocyclic nature.