Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of pharmaceuticals, particularly in the development of drugs targeting cardiovascular and neurological disorders. It is also employed in the synthesis of fine chemicals and agrochemicals, where it serves as a building block for more complex molecules. Additionally, it finds application in the preparation of specialty polymers and resins, contributing to materials with enhanced thermal and chemical stability. Its reactivity makes it valuable in research settings for developing novel compounds with potential therapeutic or industrial uses.