Primarily utilized in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting central nervous system disorders. Its structure is instrumental in the development of compounds with potential antipsychotic and anxiolytic properties. Additionally, it finds application in organic synthesis, where it is used to create complex molecules for research and development purposes. In material science, it contributes to the production of advanced polymers and coatings, enhancing their performance characteristics. Its role in the creation of biologically active molecules also extends to agrochemicals, aiding in the formulation of more effective pesticides and herbicides.