This compound is primarily utilized in organic synthesis as a versatile intermediate. It serves as a valuable building block in the preparation of various heterocyclic compounds, particularly those containing pyrrole rings. Its application extends to the development of pharmaceuticals, where it is used in the synthesis of potential drug candidates, especially those targeting neurological and anti-inflammatory pathways. Additionally, it finds use in agrochemical research for creating novel pesticides and herbicides. Its role in material science is also notable, contributing to the development of specialized polymers and coatings with unique properties.