This chemical is primarily utilized in the synthesis of various heterocyclic compounds, which are significant in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of biologically active molecules, particularly in the creation of compounds with potential therapeutic properties. Its structure allows for the introduction of diverse functional groups, making it valuable in medicinal chemistry for designing drugs targeting specific biological pathways. Additionally, it is employed in research and development for exploring new chemical entities with applications in drug discovery and crop protection.