This compound is primarily utilized as a key intermediate in the synthesis of various organic compounds, particularly in the production of specialty chemicals and pharmaceuticals. Its unique structure makes it valuable in the development of polymers and resins, where it can enhance thermal stability and mechanical properties. Additionally, it is employed in the formulation of certain types of adhesives and coatings, contributing to improved performance and durability. In research, it serves as a reagent in organic synthesis, aiding in the creation of complex molecules with potential applications in medicinal chemistry and material science.