Used primarily in the synthesis of pharmaceuticals and agrochemicals, it serves as a key intermediate in the production of various active compounds. Its structure allows for further chemical modifications, making it valuable in creating molecules with specific biological activities. In medicinal chemistry, it is utilized to develop drugs targeting neurological disorders and inflammatory conditions. Additionally, it finds application in the preparation of herbicides and pesticides, contributing to crop protection and agricultural efficiency. Its versatility in organic synthesis makes it a crucial component in research and industrial processes.