Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of heterocyclic compounds, which are essential in developing active ingredients for drugs and pesticides. Additionally, it plays a role in the preparation of dyes and pigments, contributing to the coloration of materials in industrial applications. Its reactivity with other chemical entities makes it a versatile building block in research and industrial processes.