Used primarily in organic synthesis, it serves as a versatile intermediate for the production of pharmaceuticals, agrochemicals, and dyes. Its structure allows it to participate in various condensation and addition reactions, making it valuable for creating complex organic molecules. Additionally, it is employed in the synthesis of heterocyclic compounds, which are crucial in medicinal chemistry. In agrochemicals, it helps in developing compounds with pesticidal and herbicidal properties. Its application extends to the preparation of specialty chemicals used in research and industrial processes.