This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. It serves as a key building block in the synthesis of pharmaceuticals, particularly in the creation of compounds with potential biological activity. Its structure is often exploited in medicinal chemistry to design molecules that target specific enzymes or receptors, making it valuable in drug discovery processes. Additionally, it finds application in the development of agrochemicals, where it contributes to the formulation of pesticides or herbicides with enhanced efficacy. Its role in material science is also notable, as it can be used to synthesize polymers or coatings with specific properties, such as improved durability or chemical resistance.