This chemical is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. It serves as a building block in the synthesis of heterocyclic compounds, which are often active ingredients in drugs targeting inflammation, infections, and other medical conditions. Additionally, it is employed in the development of organic materials, including dyes and pigments, due to its ability to form stable and complex structures. In research, it is used to study reaction mechanisms and to develop new synthetic methodologies, particularly in the field of organic chemistry. Its unique structure allows for versatile chemical transformations, making it valuable in both industrial and academic settings.