This chemical is primarily used in organic synthesis as a versatile intermediate. It plays a significant role in the preparation of various heterocyclic compounds, which are essential in pharmaceutical and agrochemical industries. The compound is particularly valuable in the synthesis of pyridine and pyrimidine derivatives, which are key structures in many drugs and biologically active molecules. Additionally, it is employed in the development of organic dyes and pigments due to its ability to form complex structures with specific optical properties. Its reactivity with nucleophiles and electrophiles makes it a useful building block in the design of novel organic materials and functional molecules.