Used primarily as a catalyst or intermediate in organic synthesis, this chemical plays a crucial role in the production of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs). Its properties make it suitable for facilitating various chemical reactions, including alkylation and acylation processes. Additionally, it is employed in the manufacturing of agrochemicals, aiding in the development of pesticides and herbicides. In industrial applications, it serves as a stabilizer or additive in certain chemical formulations, enhancing their performance or shelf life. Its versatility also extends to research and development, where it is utilized in the study of new chemical reactions and processes.