Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) with anti-inflammatory and analgesic properties. It serves as a building block in heterocyclic chemistry, enabling the construction of complex pyrazole derivatives. Its hydroxymethyl group allows for further functionalization, making it valuable in medicinal chemistry for creating drug candidates. Also employed in agrochemical research for designing new pesticides and herbicides due to its ability to enhance bioactivity in molecular structures.