This chemical is primarily utilized in organic synthesis as a versatile intermediate for the preparation of more complex molecules. It is particularly valuable in the development of pharmaceuticals, where its functional groups allow for further modifications to create active pharmaceutical ingredients (APIs). The compound is also employed in the synthesis of agrochemicals, contributing to the production of herbicides, fungicides, and insecticides. Additionally, it finds use in materials science for the creation of specialty polymers and advanced materials with tailored properties. Its reactive sites make it a key building block in research and industrial applications, enabling the construction of diverse chemical structures.