This chemical is primarily utilized in the synthesis of advanced organic compounds, particularly in the development of liquid crystal materials. Its structural properties make it suitable for creating molecules with specific alignment and stability, which are essential for display technologies like LCDs. Additionally, it serves as an intermediate in the production of pharmaceuticals, where its functional groups can be modified to create active drug components. Its role in organic synthesis also extends to the preparation of complex polymers and materials with tailored optical or electronic properties.