This compound is primarily utilized in the field of organic synthesis as a key intermediate for the preparation of more complex chemical structures. It serves as a building block in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target specific biological pathways. Additionally, it is employed in material science for the creation of advanced polymers and coatings, where its unique chemical properties contribute to enhanced performance characteristics such as durability and stability. Its role in research and development is also significant, as it aids in the study of molecular interactions and the design of novel compounds with potential therapeutic or industrial applications.