This chemical is primarily utilized in the synthesis of pharmaceutical compounds, particularly in the development of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of various drugs, including those with anti-inflammatory and analgesic properties. Additionally, it is employed in organic synthesis to create complex molecules for research and industrial applications. Its role in the production of dyes and pigments also makes it valuable in the chemical manufacturing industry. The compound’s stability and reactivity make it a versatile building block in medicinal chemistry and material science.