This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of various pharmaceuticals and agrochemicals due to its reactive functional groups. The compound's structure allows it to participate in reactions that form complex molecules, making it valuable in the development of active pharmaceutical ingredients (APIs). Additionally, it can be used in the synthesis of specialty chemicals, where its unique properties contribute to the creation of high-performance materials. Its application extends to research and development laboratories, where it serves as a building block for novel compounds in medicinal chemistry and material science.