This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the development of complex organic molecules, particularly in the synthesis of pharmaceuticals and agrochemicals. Its structure allows it to participate in various cycloaddition reactions, making it valuable for constructing polycyclic compounds. Additionally, it is employed in research settings to study reaction mechanisms and develop new synthetic methodologies. Its stability and reactivity make it a useful tool in the creation of novel compounds with potential applications in medicinal chemistry and material science.