This chemical is primarily utilized in the pharmaceutical and agrochemical industries as a key intermediate in the synthesis of various active compounds. In pharmaceuticals, it serves as a building block for the development of drugs targeting inflammatory and metabolic disorders, owing to its structural properties that allow for effective modification. In agrochemicals, it is employed in the creation of herbicides and pesticides, where its derivatives help in controlling weed growth and pest infestation. Additionally, it finds application in research and development for studying biochemical pathways and designing novel therapeutic agents.