Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of compounds with potential antibacterial and antifungal properties. Additionally, it is utilized in the synthesis of dyes and pigments, contributing to the vibrant colors in textiles and industrial materials. Researchers also explore its role in creating advanced materials, such as polymers with specific optical properties. Its versatility makes it a crucial component in the development of new chemical entities for diverse industrial applications.