Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various chemicals, including pharmaceuticals and agrochemicals. Its structure allows it to participate in reactions that form complex molecules, making it valuable in the development of active pharmaceutical ingredients. Additionally, it is utilized in the manufacture of dyes and pigments, contributing to the coloration of materials. In research, it serves as a building block for studying new compounds and their potential applications in different industries. Its versatility in chemical reactions underscores its importance in both industrial and academic settings.