Used primarily as a reagent in organic synthesis, this compound facilitates the formation of carbon-carbon bonds, especially in Grignard reactions. It is particularly effective in the preparation of complex organic molecules, including pharmaceuticals and fine chemicals. Additionally, it serves as a key intermediate in the synthesis of dyes and pigments, contributing to the vibrant colors in various industrial applications. Its role in polymerization processes also makes it valuable in the production of specialized plastics and resins.