Used primarily as an intermediate in organic synthesis, this compound plays a key role in the production of various fine chemicals and pharmaceuticals. It is often utilized in the development of active pharmaceutical ingredients (APIs) due to its structural properties, which allow for further chemical modifications. Additionally, it finds application in the synthesis of agrochemicals, contributing to the formulation of pesticides and herbicides. Its stability and reactivity make it a valuable component in research and industrial processes aimed at creating complex organic molecules.