Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and analgesic agents. It serves as a building block in heterocyclic chemistry due to its stable pyrazole core, which is common in bioactive molecules. Also employed in coordination chemistry as a ligand for metal ions, aiding in the creation of catalysts for organic transformations. Its derivatives show potential in materials science, especially in the design of fluorescent sensors and optoelectronic materials.