Used primarily as an intermediate in organic synthesis, it plays a crucial role in the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its structure allows it to act as a building block for more complex molecules, particularly in the development of compounds with specific biological activities. In the pharmaceutical industry, it is employed in the synthesis of active pharmaceutical ingredients (APIs) that target various therapeutic areas. Additionally, it finds application in the creation of corrosion inhibitors and surfactants, enhancing the performance of industrial formulations. Its versatility in chemical reactions makes it valuable for research and development in material science and fine chemical manufacturing.