This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of active ingredients for herbicides and fungicides, helping to control weed growth and fungal infections in crops. Additionally, it is employed in the preparation of complex molecules for medicinal chemistry, where it contributes to the creation of potential drug candidates targeting specific diseases. Its functional groups make it a versatile building block in organic synthesis, enabling the construction of diverse chemical structures with potential biological activity.