This chemical is primarily utilized in the field of organic synthesis, particularly as a key intermediate or reagent in the preparation of complex organic molecules. Its unique structure makes it valuable in the development of pharmaceuticals, where it can be employed in the synthesis of active pharmaceutical ingredients (APIs) or other biologically active compounds. Additionally, it may be used in materials science for the creation of specialized polymers or coatings, leveraging its specific chemical properties to enhance performance or functionality. Its role in catalysis or as a ligand in metal-catalyzed reactions is also of interest in industrial and academic research settings.