Used primarily in the synthesis of complex organic compounds, this chemical serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows for the introduction of various functional groups, making it valuable in the development of active pharmaceutical ingredients (APIs). Additionally, it is employed in the creation of dyes and pigments, where its specific substitution pattern contributes to the desired color properties. Its role in research and development is significant, particularly in the fields of medicinal chemistry and material science.