This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting specific biological pathways. It serves as a key intermediate in the production of certain drugs, including non-steroidal anti-inflammatory drugs (NSAIDs) like tolmetin, which exhibit anti-inflammatory and analgesic properties. Additionally, it is employed in research and development for creating novel therapeutic agents due to its structural versatility. In organic chemistry, it is often used as a building block for constructing more complex molecules, especially in the development of heterocyclic compounds. Its applications may extend to the field of material science, where it contributes to the synthesis of specialized polymers and coatings.