This chemical is primarily utilized in the synthesis of advanced materials and pharmaceuticals. It serves as a key intermediate in the production of certain dyes and pigments, contributing to vibrant and stable color formulations used in textiles and coatings. In the pharmaceutical industry, it is employed in the development of active pharmaceutical ingredients (APIs) for medications targeting specific diseases, particularly those requiring precise molecular structures for efficacy. Additionally, it finds application in organic synthesis for creating complex molecules used in research and industrial processes, aiding in the discovery of new compounds with potential therapeutic or functional properties.