This compound is primarily utilized in the field of organic synthesis as a versatile building block for the development of more complex chemical structures. It serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target specific biological pathways. Additionally, it is employed in the creation of agrochemicals, where it contributes to the formulation of pesticides and herbicides with enhanced efficacy. Its unique structure allows it to act as a precursor in the design of dyes and pigments, providing specific optical properties for industrial applications. Researchers also explore its potential in material science, particularly in the development of advanced polymers and coatings with tailored characteristics.