This compound is primarily utilized in the field of organic synthesis as a key intermediate for the preparation of various biologically active molecules. It serves as a building block in the development of pharmaceuticals, particularly in the synthesis of hydrazide derivatives that exhibit potential therapeutic properties. Additionally, it is employed in the creation of specialized chemicals used in research and development, particularly in studies focusing on antioxidant and antimicrobial activities. Its structure makes it suitable for applications in material science, where it can be incorporated into polymers or coatings to enhance specific properties.