This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly as an intermediate in the production of drugs targeting neurological and cardiovascular conditions. It serves as a key building block in the creation of complex molecules due to its stable cyclic structure and functional groups, which allow for versatile chemical modifications. Additionally, it is employed in the development of agrochemicals, contributing to the formulation of pesticides and herbicides. Its role in organic synthesis also extends to the creation of specialty chemicals used in research and industrial applications.