This chemical is primarily utilized in the field of organic synthesis, where it serves as a valuable intermediate for the preparation of more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Additionally, it finds application in the production of agrochemicals, contributing to the creation of pesticides and herbicides. Its role in material science is also noteworthy, as it can be used in the synthesis of polymers and coatings that require specific chemical functionalities. Furthermore, it is used in the production of corrosion inhibitors for metals, helping to extend the lifespan of equipment and machinery in corrosive environments. The compound's ability to act as a building block in various chemical reactions makes it a versatile tool in research and industrial applications, including petrochemical processes.