This chemical is primarily used in the synthesis of various heterocyclic compounds, which are valuable in pharmaceutical research. It serves as a key intermediate in the development of drugs targeting specific diseases, including antimicrobial and anti-inflammatory agents. Additionally, it is utilized in the production of agrochemicals, such as pesticides and herbicides, due to its ability to enhance the efficacy of these products. Its role in organic synthesis also extends to the creation of dyes and other specialty chemicals, making it a versatile component in industrial applications.