Used in organic synthesis as a key intermediate for the preparation of various heterocyclic compounds. It is particularly valuable in the development of pharmaceuticals, where it serves as a building block for active pharmaceutical ingredients (APIs) targeting therapeutic areas such as inflammation, cancer, and central nervous system disorders. Additionally, it finds application in material science for the creation of advanced polymers and coatings with specific optical or electronic properties. Its structural versatility allows for modifications that enhance the performance of the final product in diverse industrial applications.