This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is commonly employed in the preparation of pharmaceutical compounds, particularly in the development of drugs targeting various therapeutic areas. Its structure allows it to act as a protective group for pyrazole derivatives, facilitating selective reactions in multi-step synthesis processes. Additionally, it finds application in the production of agrochemicals, where it serves as a key building block for creating active ingredients in pesticides and herbicides. Its stability and reactivity make it a valuable component in research and industrial settings for designing and synthesizing complex molecules.