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 development of heterocyclic compounds, which are essential in creating drugs with antimicrobial, antifungal, and anti-inflammatory properties. Additionally, it plays a role in the synthesis of complex molecules for research purposes, aiding in the discovery of new therapeutic agents. Its versatility makes it a crucial component in the fine chemical industry.