This chemical is primarily utilized in organic synthesis, particularly in the development of advanced materials and polymers. It serves as a key building block in the creation of cross-linked polymers, which are essential for producing high-performance plastics and resins. Additionally, it is employed in the synthesis of organic light-emitting diodes (OLEDs), where it contributes to the formation of emissive layers that enhance device efficiency. Its role in photoresist materials is also significant, aiding in the fabrication of microelectronic components. Furthermore, it is explored in research for potential applications in drug delivery systems due to its ability to form stable, functionalized structures.