Used primarily as an intermediate in organic synthesis, it plays a crucial role in the production of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in creating complex molecules. In pharmaceutical research, it is utilized to develop compounds with potential therapeutic properties. Additionally, it finds application in the synthesis of dyes and pigments, contributing to the coloration of various materials. Its reactivity with other organic compounds makes it a versatile building block in chemical manufacturing processes.