This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the production of various pharmaceuticals, agrochemicals, and specialty chemicals. Its structure allows it to participate in cyclization and condensation reactions, making it valuable for constructing complex molecular frameworks. Additionally, it is employed in the development of bioactive compounds, particularly in the synthesis of heterocyclic molecules that exhibit potential therapeutic properties. Its applications extend to materials science, where it contributes to the creation of novel polymers and functional materials.