Used primarily in the synthesis of polymers and resins, it serves as a key monomer in the production of specialty coatings and adhesives. Its incorporation into polymer chains enhances durability and chemical resistance, making it valuable in industrial applications. Additionally, it is utilized in the development of controlled-release drug delivery systems, where its stability and reactivity are leveraged to create biocompatible materials. In organic synthesis, it acts as an intermediate for constructing complex molecules, particularly in pharmaceuticals and agrochemicals.