This compound is primarily utilized in organic synthesis as a versatile building block for the creation of more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential biological activity. Additionally, it serves as a key intermediate in the production of agrochemicals, contributing to the formulation of pesticides and herbicides. Its reactivity also makes it valuable in material science, where it is used to modify polymers and create specialized materials with unique properties. Furthermore, it plays a role in the synthesis of dyes and pigments, aiding in the development of colorants for various industrial applications.