Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting central nervous system disorders, where its structural properties enable effective interaction with specific receptors. Additionally, it finds application in the production of dyes and pigments, contributing to the vibrant coloration of materials in the textile and printing industries. Its role in organic synthesis also extends to the creation of complex molecules for research and development purposes.