Used primarily as an intermediate in the synthesis of various organic compounds, particularly in the production of pharmaceuticals and agrochemicals. It plays a key role in the development of dyes and pigments due to its ability to form stable, colored complexes. Additionally, it is employed in research settings for the study of heterocyclic chemistry, aiding in the exploration of new chemical reactions and pathways. Its unique structure makes it valuable in the creation of specialized materials with specific optical or electronic properties.