This chemical is primarily utilized in organic synthesis, particularly as a versatile building block for constructing complex molecules. Its reactive structure makes it valuable in the preparation of heterocyclic compounds, which are essential in pharmaceuticals and agrochemicals. It is also employed in the development of dyes and pigments due to its ability to form stable intermediates. Additionally, it finds use in research and development for creating novel materials with specific electronic or optical properties. Its applications extend to the field of polymer chemistry, where it can act as a cross-linking agent or modifier to enhance material performance.