Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals, particularly in the development of antihistamines and other therapeutic agents. Its structure allows for effective modification, making it valuable in creating compounds with specific biological activities. Additionally, it is utilized in research for designing drug delivery systems due to its ability to enhance solubility and bioavailability of active ingredients. In material science, it can be incorporated into polymers to impart specific functional properties.