Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of dyes and pigments, contributing to vibrant and stable colors in various industrial applications. It is also utilized in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs), where its structure aids in the development of complex molecules. Additionally, it serves as a building block in agrochemical research, helping to create compounds that enhance crop protection and yield. Its reactivity and specific functional groups make it valuable in advanced chemical research and development processes.