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 often active ingredients in drugs targeting specific diseases. Additionally, it finds application in the development of dyes and pigments, contributing to the coloration of materials in industrial processes. Its role in research and development is significant, aiding in the study of chemical reactions and the creation of novel compounds with potential therapeutic or industrial uses.