This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of compounds with potential therapeutic effects, particularly in the creation of drugs targeting neurological and cardiovascular disorders. Additionally, it is employed in organic synthesis to construct complex molecules, often serving as a building block in the production of heterocyclic compounds. Its applications extend to research and development, where it is used to study chemical reactions and develop new methodologies in medicinal chemistry.