This chemical is primarily utilized in the synthesis of polymers and resins, where it acts as a reactive intermediate. It is particularly effective in the production of coatings and adhesives, providing enhanced durability and flexibility. Additionally, it finds application in the textile industry as a finishing agent, improving the fabric's resistance to wrinkles and abrasion. In the field of agriculture, it is used as a precursor in the formulation of certain pesticides, contributing to their stability and efficacy. Its role in the pharmaceutical industry includes serving as a building block for the development of specific drug compounds, aiding in the creation of more effective therapeutic agents.