Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of heterocyclic compounds, which are essential in developing drugs with therapeutic properties. Additionally, it finds application in the preparation of fine chemicals and specialty materials, where its reactivity and structure contribute to the creation of complex molecules. Its role in research and development is significant, aiding in the exploration of new chemical entities and innovative industrial processes.