This chemical is primarily utilized in the synthesis of organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs) that target various diseases, including cancer and inflammatory conditions. Additionally, it is employed in the creation of advanced materials, such as liquid crystals and polymers, which are essential in electronics and display technologies. Its unique structure allows for versatile chemical reactions, making it valuable in research and industrial applications for developing novel compounds with specific properties.