This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a key building block for the preparation of complex molecules due to its reactive functional groups, which allow for further chemical modifications. Its structure is advantageous in the synthesis of cyclic compounds, making it valuable in the development of drugs and other biologically active compounds. Additionally, it finds application in research and development for creating novel chemical entities with potential therapeutic or agricultural uses.