Used in organic synthesis as a building block for creating complex molecules, particularly in the development of pharmaceuticals and bioactive compounds. It serves as a precursor in the synthesis of various heterocyclic compounds, which are essential in drug discovery. Additionally, it is employed in the preparation of intermediates for dyes and pigments due to its reactive double bond and functional groups. Its application extends to research in material science, where it contributes to the development of novel polymers and coatings.