This chemical is primarily utilized in organic synthesis, particularly as a building block for the creation of complex molecules. It serves as a key intermediate in the production of heterocyclic compounds, which are often employed in pharmaceuticals and agrochemicals. Its unique structure allows for the introduction of functional groups, making it valuable in the development of dyes, pigments, and other specialty chemicals. Additionally, it is used in research settings to study reaction mechanisms and develop novel synthetic pathways. Its applications are largely centered around its reactivity and versatility in chemical transformations.