This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and cardiovascular conditions. Its structure allows it to act as an intermediate in the production of drugs that modulate neurotransmitter activity or improve blood flow. Additionally, it finds application in the development of specialty chemicals used in organic synthesis, where its functional groups enable the creation of complex molecules. In research, it serves as a building block for designing novel compounds with potential therapeutic properties. Its versatility also extends to the field of polymer chemistry, where it can be incorporated into materials requiring specific chemical functionalities.