Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, including anti-inflammatory and antimicrobial agents. Its structure is valuable in the development of heterocyclic compounds, which are essential in drug discovery. Additionally, it finds application in agrochemicals, contributing to the synthesis of pesticides and herbicides. Its role in material science is also notable, where it aids in the creation of specialized polymers and coatings with enhanced properties.