This chemical is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. It serves as a building block in the synthesis of complex molecules, particularly in the development of active pharmaceutical ingredients (APIs) that target specific biological pathways. Additionally, it is employed in the creation of dyes and pigments, contributing to the coloration of textiles and other materials. Its role in research and development is significant, as it aids in the exploration of new chemical reactions and the design of novel compounds with potential industrial or medicinal applications.