Used primarily in organic synthesis, this compound serves as a versatile intermediate for the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its ability to form stable heterocyclic structures. Additionally, it is employed in the manufacture of specialty chemicals, including dyes and pigments, where its unique structure contributes to desired chemical properties. Its applications also extend to research and development, where it is utilized in the study of reaction mechanisms and the synthesis of novel compounds.