Primarily used in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the production of various active ingredients. Its structure allows for further functionalization, making it valuable in the development of herbicides, fungicides, and insecticides. Additionally, it is utilized in organic synthesis to create complex molecules for drug discovery, particularly in the construction of heterocyclic compounds with potential therapeutic applications. Its reactivity also makes it a useful building block in the preparation of specialty chemicals and fine chemicals.