It is primarily used in the synthesis of pharmaceuticals and agrochemicals due to its role as a versatile intermediate. In medicinal chemistry, it serves as a building block for developing compounds with potential therapeutic properties, such as anti-inflammatory or antimicrobial agents. Additionally, it is utilized in the production of herbicides and pesticides, contributing to crop protection and agricultural efficiency. Its chemical structure allows for modifications that enhance the efficacy and specificity of the final products in various applications.