Used in organic synthesis as a key intermediate for producing various pharmaceuticals and agrochemicals. It plays a role in the development of compounds with potential antioxidant and antimicrobial properties. Additionally, it is utilized in the synthesis of heterocyclic compounds, which are important in medicinal chemistry for creating drugs targeting specific biological pathways. Its applications extend to the production of dyes and fragrances, where its chemical structure contributes to the desired properties of the final product.