Used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with anti-inflammatory, antimicrobial, and antifungal properties. Additionally, it plays a role in the synthesis of complex molecules for research purposes, aiding in the study of chemical reactions and biological activities. Its versatility makes it a crucial component in the fine chemical industry.