This chemical is primarily utilized in the synthesis of various pharmaceutical compounds due to its ability to act as an intermediate in organic reactions. It is often employed in the production of active pharmaceutical ingredients (APIs) where its structural properties facilitate the formation of complex molecules. Additionally, it finds use in the development of agrochemicals, contributing to the creation of pesticides and herbicides. Its versatility also extends to the field of material science, where it is used in the preparation of specialty polymers and coatings. The compound's stability and reactivity make it a valuable component in research and industrial applications.