This chemical is primarily used in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. It plays a crucial role in the synthesis of chelating agents, which are utilized in water treatment processes to bind and remove metal ions. Additionally, it is employed in the development of complexing agents for industrial applications, including the stabilization of polymers and the enhancement of dye formulations. Its versatility in chemical reactions makes it valuable in research and development for creating novel compounds with specific functional properties.