This compound is primarily utilized in the synthesis of various pharmaceutical agents and agrochemicals. It serves as a key intermediate in the production of pyrazole derivatives, which are known for their biological activities, including anti-inflammatory, antimicrobial, and antifungal properties. Additionally, it is employed in the development of pesticides and herbicides, contributing to the control of pests and weeds in agricultural practices. Its role in organic synthesis also extends to the creation of complex molecules for research and industrial applications.