Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs, particularly those targeting central nervous system disorders. It is also employed in the development of agrochemicals, where it contributes to the creation of pesticides and herbicides. In research, it is utilized as a building block for organic compounds, aiding in the study of chemical reactions and the development of new materials. Additionally, its derivatives are explored for potential applications in dye and pigment industries due to their unique structural properties.