This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active compounds, particularly in the design of pyrazole derivatives. These derivatives are often explored for their potential therapeutic properties, including anti-inflammatory, antimicrobial, and anticancer activities. Additionally, its unique structure makes it a valuable building block in the synthesis of complex heterocyclic compounds, which are crucial in drug discovery and medicinal chemistry. Researchers also investigate its role in creating novel materials with specific optical or electronic properties for advanced technological applications.