Used in organic synthesis as a building block for creating complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a precursor in the synthesis of pyrrole derivatives, which are valuable in drug discovery for their potential biological activities. Additionally, it is employed in the production of dyes and pigments due to its ability to form stable and vibrant compounds. Its role in research extends to the study of heterocyclic compounds, aiding in the exploration of new materials and chemical reactions.