Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and fine chemicals. It is particularly valuable in the preparation of benzophenone derivatives, which are widely employed in UV-curable coatings, adhesives, and inks. Additionally, it plays a role in the development of photoinitiators for polymerization processes. Its reactivity with nucleophiles makes it useful in the creation of complex molecules for research and industrial applications.