Used primarily 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, antifungal, and anti-inflammatory properties. Additionally, it finds application in the synthesis of dyes and pigments, contributing to the coloration of materials in industries such as textiles and plastics. Its role in coordination chemistry is also notable, where it acts as a ligand in the formation of metal complexes used in catalysis and material science.