Used as an intermediate in the synthesis of various organic compounds, particularly in the production of polymers and resins. It plays a role in the manufacture of coatings, adhesives, and plasticizers, contributing to improved flexibility and durability in materials. Additionally, it is employed in the development of specialty chemicals for the pharmaceutical and agrochemical industries, where it aids in creating active ingredients or modifying chemical properties. Its application in research and development also extends to the study of cyclic compounds and their derivatives for advanced material science.