This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex chemical structures. It is particularly valuable in the pharmaceutical industry, where it serves as a building block for the synthesis of various active pharmaceutical ingredients (APIs). Additionally, it finds application in the development of dyes and pigments, contributing to the creation of colorants with specific properties. Its role in research and development is also significant, as it aids in the study of chemical reactions and the exploration of new compounds with potential industrial or medicinal uses.