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 for pyrazolone-based drugs, which exhibit a range of biological activities including antipyretic and antimicrobial effects. Its structure allows for easy modification, making it valuable in medicinal chemistry for designing new active compounds. Also employed in agrochemical research for developing herbicides and pesticides due to its ability to influence plant growth regulation. Additionally, it finds use in dye synthesis and coordination chemistry as a ligand for metal ions.