This chemical is primarily used in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of various pharmaceuticals, particularly those targeting metabolic and inflammatory conditions. Additionally, it is utilized in the development of agrochemicals, contributing to the synthesis of herbicides and plant growth regulators. In research, it is employed to study enzymatic reactions and metabolic pathways due to its structural similarity to certain natural compounds. Its applications also extend to the field of material science, where it is used in the preparation of advanced polymers and coatings.