Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the production of various biologically active molecules. Its structural features make it valuable in the development of compounds with potential anti-inflammatory, antimicrobial, and antitumor properties. Additionally, it is employed in organic synthesis to create heterocyclic compounds, which are essential in drug discovery and material science. Its application extends to research laboratories for studying chemical reactions and developing novel therapeutic agents.