Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with antimicrobial, anti-inflammatory, and antifungal properties. Additionally, it plays a role in the synthesis of dyes and pigments, contributing to the coloration of materials in industrial applications. Its versatility also extends to research and development, where it is utilized in the study of chemical reactions and the creation of novel compounds with potential therapeutic benefits.