This compound is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with antimicrobial, anti-inflammatory, and anticancer properties. Additionally, it serves as a building block in the synthesis of dyes and pigments, contributing to the coloration of textiles and materials. Its role in the preparation of advanced materials, such as polymers and coatings, is also noteworthy, enhancing durability and performance in industrial applications.