Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the development of active ingredients. Its structure is particularly valuable in creating heterocyclic compounds, which are essential in drug discovery for their biological activity. Additionally, it finds application in the production of dyes and pigments, contributing to the coloration of various materials. Its versatility in organic synthesis also makes it a useful building block in the preparation of complex molecules for research and industrial purposes.