Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting central nervous system disorders, such as antidepressants and antipsychotics. Additionally, it finds application in the creation of agrochemicals, including pesticides and herbicides, due to its structural properties that enhance biological activity. In material science, it is utilized in the synthesis of organic semiconductors and light-emitting diodes (LEDs), contributing to advancements in electronic devices. Its versatility also extends to dye and pigment manufacturing, where it acts as a building block for complex colorants.