This chemical is primarily utilized in organic synthesis as a key intermediate for the preparation of various heterocyclic compounds. It plays a significant role in the development of pharmaceuticals, particularly in the synthesis of bioactive molecules with potential therapeutic applications. The compound is also employed in the creation of advanced materials, including dyes and pigments, due to its ability to introduce functional groups into complex structures. Additionally, it is used in research settings to study reaction mechanisms and develop new synthetic methodologies, contributing to advancements in chemical sciences.