Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of active ingredients for drugs targeting various diseases. Additionally, it is employed in the synthesis of specialty chemicals, including dyes and pigments, due to its ability to introduce specific functional groups into complex molecules. Its applications extend to research and development, where it is utilized in the study of chemical reactions and the creation of novel compounds with potential industrial uses.