Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals and agrochemicals. It is also employed in the manufacture of dyes and pigments, contributing to the vibrant colors in textiles and other materials. In research laboratories, it serves as a reagent for studying chemical reactions and mechanisms. Additionally, it finds application in the preparation of specialty chemicals that are used in industrial processes. Its reactivity makes it valuable for creating complex molecules in synthetic chemistry.