Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of heterocyclic compounds, which are crucial in drug discovery for their biological activity. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to form complex structures with vibrant colors. Researchers also utilize it in the study of thiazole derivatives, which have shown potential in antimicrobial and anti-inflammatory applications. Its role in material science includes the development of organic electronic materials, where its aromatic and heterocyclic nature contributes to desirable electronic properties.