Primarily utilized in the synthesis of pharmaceutical compounds, this chemical serves as a key intermediate in the production of various drugs. It is particularly valuable in the development of medications targeting neurological disorders due to its structural properties. Additionally, it finds application in the creation of agrochemicals, contributing to the formulation of pesticides and herbicides that protect crops from pests and diseases. In research laboratories, it is used as a building block for the synthesis of complex organic molecules, aiding in the study of chemical reactions and the development of new materials. Its role in the production of dyes and pigments also makes it significant in the textile and coloring industries.