This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure makes it a valuable building block for constructing complex molecules, particularly in the development of drugs targeting specific biological pathways. Additionally, it is employed in research settings for the synthesis of novel compounds with potential therapeutic or pesticidal properties. Its unique chemical properties also make it suitable for use in material science, particularly in the development of specialized dyes and pigments.