This chemical is primarily utilized in the field of medical imaging and diagnostics, particularly in magnetic resonance imaging (MRI). It serves as a contrast agent due to its ability to enhance the visibility of internal body structures. The PEG (polyethylene glycol) component improves solubility and biocompatibility, making it suitable for in vivo applications. Additionally, it is used in research and development for studying molecular interactions and cellular processes, as well as in the synthesis of advanced materials for targeted drug delivery systems. Its unique properties also make it valuable in the development of novel therapeutic agents and diagnostic tools.