This chemical is primarily utilized in organic synthesis as a key intermediate for the production of various complex compounds. It is often employed in the development of pharmaceuticals, where it serves as a building block for active pharmaceutical ingredients (APIs). Additionally, it finds application in the synthesis of dyes and pigments, contributing to the creation of colorants used in textiles and industrial materials. Its role in agrochemical research is also notable, as it aids in the formulation of pesticides and herbicides. The compound's structure allows for versatile chemical modifications, making it valuable in research and development across multiple industries.