Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of complex molecules. It is particularly useful in the synthesis of active pharmaceutical ingredients (APIs) where the introduction of halogen and aldehyde groups is required. Additionally, it finds application in material science for the creation of specialized polymers and coatings. Its unique reactivity also makes it a candidate for research in developing new chemical entities with potential biological activity.