Used primarily as an intermediate in organic synthesis, it plays a crucial role in the production of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). Its structure is valuable for constructing complex molecules, often serving as a building block in the synthesis of esters and other organic compounds. Additionally, it finds application in the preparation of fine chemicals and specialty materials, where its reactivity and stability are advantageous. In research, it is utilized for studying reaction mechanisms and developing novel synthetic pathways.