This chemical is widely used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly in the development of active pharmaceutical ingredients (APIs). Its structure allows it to act as a versatile building block in organic synthesis, facilitating the creation of complex molecules with specific biological activities. It is also employed in the production of specialty chemicals, such as surfactants and emulsifiers, due to its ability to modify solubility and enhance stability in formulations. Additionally, it finds application in the field of polymer chemistry, where it is used to synthesize polymers with tailored properties, such as improved flexibility or biocompatibility. Its role in drug delivery systems is notable, as it can be incorporated into carriers to improve the efficiency and targeting of therapeutic agents.