Used primarily as an intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals, particularly in the development of anti-inflammatory and analgesic drugs. Its structure allows for further chemical modifications, making it valuable in creating compounds with specific biological activities. Additionally, it is utilized in the synthesis of dyes and pigments, contributing to the colorant industry. Its versatility also extends to research applications, where it serves as a building block for studying chemical reactions and developing new materials.