This chemical is primarily utilized in the field of organic synthesis as a versatile intermediate. It plays a crucial role in the development of various heterocyclic compounds, which are essential in pharmaceutical research. Its structure allows for further functionalization, making it valuable in the synthesis of potential drug candidates, particularly those targeting specific enzymes or receptors. Additionally, it is employed in agrochemical research for the creation of novel pesticides or herbicides, leveraging its reactivity to produce biologically active molecules. Its application extends to material science, where it is used in the preparation of specialized polymers or coatings with unique properties.