This chemical is primarily used in organic synthesis as a versatile intermediate. It plays a crucial role in the production of various pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that require specific cyclic structures. Additionally, it is employed in the development of agrochemicals, where it contributes to the creation of compounds with enhanced biological activity. Its unique structure also makes it valuable in material science, particularly in the synthesis of polymers and specialty chemicals that require precise molecular frameworks. Furthermore, it is utilized in research and development for exploring new chemical reactions and pathways, aiding in the discovery of novel compounds with potential industrial applications.