This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target various therapeutic areas. Its structure is valuable for constructing heterocyclic compounds, which are often key components in drug molecules. Additionally, it is employed in agrochemical research for creating novel pesticides and herbicides, leveraging its pyrazole core to enhance biological activity. The compound's reactivity also makes it useful in material science for designing specialized polymers and coatings with tailored properties.