This chemical is primarily utilized in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. Its structure makes it suitable for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). Additionally, it finds application in the synthesis of UV absorbers and stabilizers, which are incorporated into polymers and coatings to enhance their resistance to UV-induced degradation. Its role in research and development includes serving as a building block for novel compounds with potential biological or industrial significance.