Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and fine chemicals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its ability to introduce specific functional groups into complex molecules. Additionally, it finds application in the synthesis of liquid crystal materials, which are essential components in display technologies such as LCDs. Its role in the creation of specialty polymers and coatings is also noteworthy, contributing to enhanced material properties like durability and thermal stability.