This chemical is primarily utilized in the field of organic synthesis and material science due to its unique structural properties. It serves as a key intermediate in the development of complex organic molecules, particularly in the synthesis of chiral compounds. Its rigid and well-defined structure makes it valuable in the design of catalysts and ligands for asymmetric synthesis, which is crucial in producing enantiomerically pure pharmaceuticals. Additionally, it finds application in the creation of advanced materials, such as liquid crystals and polymers, where its stability and specific geometry contribute to desired material properties. Its role in research and development underscores its importance in innovative chemical and industrial applications.