This chemical is primarily utilized in organic synthesis as a building block for creating more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its structure makes it a useful intermediate in the production of dyes and pigments, contributing to the color and stability of these materials. Additionally, it finds application in material science, where it is used to modify the properties of polymers and other advanced materials, enhancing their performance in specific applications. Its role in research and development is significant, particularly in the study of organic reactions and the creation of novel chemical entities.