This chemical is primarily used in the field of drug delivery and pharmaceutical research due to its ability to form inclusion complexes with various drug molecules. Its structure allows it to enhance the solubility, stability, and bioavailability of poorly water-soluble drugs, making it a valuable excipient in formulation development. Additionally, it is employed in molecular recognition studies and as a chiral selector in chromatography to separate enantiomers, aiding in the analysis and purification of chiral compounds. Its unique properties also make it useful in environmental applications, such as the removal of organic pollutants from water through host-guest interactions.