Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the production of various active ingredients. It is particularly valuable in the development of herbicides and fungicides, where its structure contributes to the efficacy of the final product. Additionally, it plays a role in the creation of certain drugs, especially those targeting inflammation and pain, due to its ability to interact with specific biological pathways. Its versatility in organic synthesis makes it a useful building block for researchers and industrial chemists.