This compound is primarily used in organic synthesis as a building block for creating more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting neurological and cardiovascular conditions. Its structure allows for versatile reactivity, making it valuable in the synthesis of heterocyclic compounds, which are often found in active pharmaceutical ingredients. Additionally, it is utilized in the preparation of dyes and pigments, contributing to the colorant industry. Its role in polymer chemistry is also notable, as it can be incorporated into polymers to modify their properties, such as flexibility or durability. In research, it is employed in studies related to chemical reactions and mechanisms, aiding in the development of new synthetic methodologies.