Used primarily in the synthesis of pharmaceuticals and organic compounds, this chemical serves as a key intermediate in the production of various drugs. It is particularly valuable in the development of compounds with potential therapeutic applications, such as anti-inflammatory and anti-cancer agents. Additionally, it finds use in the creation of dyes and pigments, contributing to the coloration of textiles and other materials. Its role in research and development is significant, aiding in the study of new chemical reactions and processes.