This chemical is primarily utilized in the synthesis of various heterocyclic compounds, which are essential in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of biologically active molecules, including potential drugs targeting inflammation, cancer, and infectious diseases. Additionally, it is employed in the creation of organic dyes and pigments due to its ability to form complex structures with unique optical properties. Its versatility also extends to material science, where it is used in the design of advanced polymers and coatings with specific functional characteristics.