Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals, this compound plays a crucial role in the development of various active ingredients. Its structure allows for the introduction of additional functional groups, making it valuable in creating complex molecules. Additionally, it is utilized in the production of specialty chemicals, including dyes and pigments, where its unique properties enhance performance and stability. In research, it serves as a building block for exploring new chemical reactions and pathways, contributing to advancements in organic chemistry.