Used primarily in the production of synthetic rubber and resins, it serves as a key monomer in polymerization processes. Its structure allows for the creation of elastomers with specific properties, making it valuable in the manufacturing of tires, adhesives, and coatings. Additionally, it is utilized in organic synthesis as a building block for more complex chemical compounds, particularly in the pharmaceutical, agrochemical, and flavor and fragrance industries. Its reactivity also makes it a useful intermediate in the development of specialty chemicals and polymers.