This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a crucial role in the development of various pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) with potential therapeutic properties. Its structure allows for modifications that can lead to the creation of compounds with antimicrobial, antifungal, or anti-inflammatory activities. Additionally, it is employed in the production of agrochemicals, contributing to the development of pesticides or herbicides that enhance crop protection. Its reactivity also makes it valuable in material science, where it can be used to design functional polymers or coatings with specific properties.