Used in the synthesis of pharmaceuticals and agrochemicals as an intermediate. It serves as a building block in the production of biologically active compounds due to its stable aromatic and heterocyclic structure. Commonly applied in research for developing new drug candidates, particularly in anti-inflammatory and central nervous system agents. Also utilized in the preparation of photostable organic materials and as a precursor in the manufacture of fragrances and flavoring agents. Its derivatives show potential in optoelectronic applications because of favorable electronic properties.