This chemical is primarily utilized in the synthesis of organic compounds, particularly in the production of fine chemicals and pharmaceuticals. It serves as a key intermediate in the development of various bioactive molecules, including those with potential therapeutic properties. Its structure allows it to participate in reactions such as polymerization, making it useful in creating specialized polymers with specific optical or mechanical properties. Additionally, it is employed in research settings for studying reaction mechanisms and developing new synthetic pathways in organic chemistry. Its applications extend to the field of material science, where it contributes to the design of advanced materials with tailored functionalities.