This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of benzimidazole derivatives, which are known for their broad biological activities, including antifungal, antiviral, and anticancer properties. Additionally, it is employed in the creation of corrosion inhibitors, which are essential in protecting metals in industrial applications. Its role in organic synthesis also extends to the preparation of dyes and pigments, contributing to the coloration of materials in the textile and manufacturing industries.