Used primarily as a key intermediate in the synthesis of various herbicides and pesticides, it plays a crucial role in agricultural chemistry. Its derivatives are effective in controlling weeds and pests, enhancing crop yields. Additionally, it is employed in the development of pharmaceuticals, particularly in the creation of compounds with potential antimicrobial and antiviral properties. In material science, it serves as a building block for the production of specialty chemicals and polymers, contributing to advancements in industrial applications.