This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. Its structure makes it a valuable building block for creating complex molecules, especially those with cyclic or ketone functionalities. In pharmaceutical research, it can be utilized to develop compounds with potential therapeutic properties, such as anti-inflammatory or antimicrobial agents. Additionally, it finds application in the synthesis of dyes and pigments due to its ability to form stable, colored derivatives. Its role in agrochemicals includes the development of herbicides or pesticides, where its chemical properties contribute to the efficacy of the final product.