This chemical is primarily utilized in the synthesis of pharmaceutical compounds, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs). It serves as a key intermediate in creating molecules that target inflammation and pain relief. Additionally, it is employed in the production of agrochemicals, where it contributes to the formulation of herbicides and pesticides designed to protect crops from pests and weeds. Its unique structure allows for effective interaction with biological targets, making it valuable in both medicinal and agricultural research.