Used primarily in the synthesis of fine chemicals and intermediates, it plays a significant role in organic chemistry research. It is often employed in the development of novel pharmaceutical compounds due to its structural properties. Additionally, it serves as a key component in the production of agrochemicals, particularly in the formulation of pesticides and herbicides. Its application extends to material science, where it is utilized in the creation of advanced polymers and coatings. The compound's reactivity and stability make it a valuable asset in various industrial chemical processes.