Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate. Its structure allows for the introduction of additional functional groups, making it valuable in the development of active ingredients. In pharmaceuticals, it is often utilized in the creation of compounds with potential therapeutic effects, particularly in targeting specific enzymes or receptors. In agrochemicals, it contributes to the production of pesticides and herbicides, enhancing their efficacy and selectivity. Additionally, it finds application in material science, where it aids in the development of advanced polymers and specialty chemicals with unique properties.