This compound is primarily utilized in the synthesis of various pharmaceutical intermediates and active ingredients. It serves as a key building block in the development of pyrazole derivatives, which are known for their biological activities, including anti-inflammatory, analgesic, and antimicrobial properties. Additionally, it is employed in agrochemical research for the creation of novel pesticides and herbicides, leveraging its structural versatility to enhance efficacy and selectivity. Its role in organic synthesis also extends to the production of fine chemicals and specialty materials, where its functional groups enable further chemical modifications.