Used primarily in the synthesis of pharmaceuticals and agrochemicals, it serves as a key intermediate in the development of active compounds. Its structure is valuable in creating molecules with potential biological activity, particularly in drug discovery for targeting specific enzymes or receptors. Additionally, it is employed in the production of pesticides, where its derivatives can exhibit herbicidal or insecticidal properties. The compound's versatility also extends to material science, where it is utilized in the preparation of advanced polymers and coatings with specialized properties.