Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. It is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with specific biological activities. Additionally, it finds application in material science, where it is utilized in the synthesis of organic semiconductors and conductive polymers. Its unique structure allows for modifications that enhance the electronic properties of these materials, making it useful in the manufacturing of electronic devices and sensors.