Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs, particularly those targeting anti-inflammatory and analgesic effects. It is also employed in the development of agrochemicals, contributing to the creation of pesticides and herbicides. Additionally, it finds application in organic synthesis, aiding in the construction of complex molecules for research and industrial purposes. Its role in the preparation of heterocyclic compounds is notable, as these structures are often integral to bioactive substances.