Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of pharmaceuticals, where it aids in the creation of various active ingredients. It is also employed in the manufacture of specialty chemicals, including those used in the development of polymers and resins, enhancing their properties for industrial applications. Additionally, it finds use in research laboratories as a reagent for studying chemical reactions and developing new compounds. Its versatility makes it valuable in both industrial and academic settings.