This compound is primarily utilized in organic synthesis as a building block for the development of more complex chemical structures. It serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its pyrrole ring structure makes it valuable in the creation of heterocyclic compounds, which are often explored for their biological activity. Additionally, it finds application in material science, where it can be incorporated into polymers or coatings to impart specific chemical or physical properties. Researchers also study its derivatives for their potential use in agrochemicals, such as pesticides or herbicides, due to their unique chemical reactivity.