This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. It is often employed in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs), particularly those targeting therapeutic areas such as anti-inflammatory, antimicrobial, and anticancer agents. Additionally, it serves as a building block in the creation of heterocyclic compounds, which are essential in the design of agrochemicals, including pesticides and herbicides. Its structural framework is also explored in material science for the development of organic electronic materials and dyes.