This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in pharmaceutical research and development. It serves as a key intermediate in the production of various biologically active molecules, including potential drug candidates. Its unique structure allows it to participate in cyclization and coupling reactions, making it valuable for constructing intricate molecular frameworks. Additionally, it is employed in the development of agrochemicals and specialty chemicals, where its reactivity and stability are advantageous for creating targeted compounds. Its application extends to material science, where it contributes to the design of novel polymers and advanced materials with specific properties.