This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of certain drugs, including those with antioxidant or anti-inflammatory properties. Additionally, it is used in research and development for creating novel compounds with potential therapeutic applications. In the agricultural sector, it may be incorporated into the formulation of pesticides or herbicides due to its structural properties. Its role in chemical synthesis makes it valuable for creating complex molecules in both industrial and laboratory settings.