This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) that target neurological and cardiovascular systems. It serves as a key intermediate in the production of certain vasodilators and antihypertensive agents, which help in managing high blood pressure and improving blood flow. Additionally, it is employed in the creation of compounds that exhibit potential antidepressant and anxiolytic properties, making it valuable in psychiatric medication research. Its role in organic synthesis also extends to the development of fine chemicals and specialty materials used in various industrial applications.