This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its unique structure makes it valuable in the development of compounds with potential biological activity, particularly in the design of inhibitors for enzymes or receptors. Additionally, it is employed in materials science for the creation of specialized polymers and coatings, where its stability and specific functional groups contribute to enhanced performance. Its role in catalysis is also noteworthy, as it can act as a ligand in transition metal complexes, facilitating various chemical reactions with high efficiency and selectivity.