This chemical is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other therapeutic agents targeting pain relief and inflammation. Additionally, it is employed in organic synthesis for creating complex molecules with potential biological activity, making it valuable in drug discovery and development processes. Its structural properties also make it suitable for research in material science, particularly in the development of novel polymers and coatings with specific functional characteristics.