It is commonly used as an intermediate in the synthesis of various pharmaceuticals and agrochemicals. Its structure allows it to act as a building block for more complex molecules, particularly in the development of compounds with potential therapeutic properties. In medicinal chemistry, it is often utilized to create derivatives that may exhibit biological activity, such as antimicrobial or antiviral effects. Additionally, it plays a role in the production of dyes and pigments, where its chemical properties contribute to the stability and color intensity of the final products. Its versatility in organic synthesis makes it valuable in research and industrial applications.