This chemical is primarily utilized in organic synthesis as an intermediate for the production of various complex molecules. Its structure makes it suitable for use in the development of pharmaceuticals, where it can serve as a building block for active pharmaceutical ingredients (APIs). Additionally, it is employed in the synthesis of specialty chemicals, including agrochemicals and dyes, due to its reactive functional groups that allow for further chemical modifications. In research settings, it is often used to study reaction mechanisms and develop new synthetic pathways. Its versatility in chemical reactions makes it a valuable component in the creation of fine chemicals and advanced materials.