This compound is primarily utilized in the synthesis of pharmaceuticals and agrochemicals due to its versatile chemical structure. It serves as a key intermediate in the production of various bioactive molecules, particularly those targeting anti-inflammatory and antimicrobial properties. Additionally, it is employed in the development of herbicides and pesticides, where its structural features contribute to enhancing efficacy and selectivity. Its role in organic synthesis also extends to the creation of heterocyclic compounds, which are valuable in medicinal chemistry and material science.