This chemical is primarily utilized in the synthesis of organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs) that target various therapeutic areas. Additionally, it finds application in the creation of UV absorbers and stabilizers used in coatings, plastics, and other materials to enhance their resistance to ultraviolet radiation. Its unique structure allows it to play a role in advanced research and development processes, particularly in the fields of medicinal chemistry and material science.