Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly those targeting anti-inflammatory and antimicrobial properties. Its structure allows for the introduction of additional functional groups, making it valuable in the development of complex drug molecules. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides that protect crops from pests and diseases. Its versatility in chemical reactions also makes it useful in material science, where it aids in the development of advanced polymers and coatings with specific performance characteristics.