This chemical is primarily used as an intermediate in the synthesis of various organic compounds, particularly in the pharmaceutical and agrochemical industries. It plays a key role in the production of active ingredients for drugs and pesticides, where its unique structure allows for the introduction of specific functional groups. Additionally, it is utilized in the development of dyes and pigments, contributing to the creation of vibrant and stable colorants. Its versatility in chemical reactions makes it a valuable component in research and industrial applications.