This compound is primarily utilized in organic synthesis as a building block for the development of more complex molecules. It serves as a key intermediate in the production of various pharmaceuticals, particularly in the synthesis of pyrrole derivatives, which are known for their biological activities. Additionally, it is used in the research and development of agrochemicals, where its structure contributes to the creation of compounds with potential pesticidal or herbicidal properties. Its role in material science is also notable, as it can be incorporated into the design of novel polymers or coatings with specific functional properties.