This chemical is primarily used as an intermediate in the synthesis of various organic compounds, particularly in the production of specialty chemicals and polymers. It finds application in the development of plasticizers, which are additives that increase the flexibility and durability of plastics. Additionally, it is utilized in the formulation of coatings and adhesives, where it contributes to improved performance and stability. In the pharmaceutical industry, it serves as a building block for the synthesis of active pharmaceutical ingredients (APIs) and other drug-related compounds. Its role in research and development also extends to the creation of novel materials with specific properties for industrial and scientific purposes.