Used primarily as a versatile intermediate in organic synthesis, it plays a crucial role in the production of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). It is also employed in the synthesis of chelating agents, which are essential in water treatment processes to bind and remove metal ions. Additionally, it finds application in the preparation of corrosion inhibitors, helping to protect metals from degradation in industrial settings. Its utility extends to the field of agrochemicals, where it contributes to the creation of pesticides and herbicides, enhancing crop protection and yield.