This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the development of complex organic compounds, particularly in the synthesis of pharmaceuticals and agrochemicals. Its unique structure allows it to participate in various chemical reactions, including cycloadditions and ring-opening reactions, which are essential for creating bioactive molecules. Additionally, it is used in research settings to study reaction mechanisms and develop new synthetic methodologies. Its application extends to material science, where it contributes to the creation of specialized polymers and advanced materials with tailored properties.