This chemical is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the preparation of more complex compounds. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target various diseases. Additionally, it finds application in the creation of agrochemicals, contributing to the production of pesticides or herbicides. Its structure allows for functionalization, making it valuable in research and development for designing molecules with specific biological activities. The compound is also used in material science for the synthesis of advanced materials with potential applications in electronics or coatings.