This chemical is primarily utilized in the field of organic synthesis, where it serves as a versatile building block for the creation of complex molecules. It is particularly valued in the development of pharmaceuticals, where it can be used to synthesize compounds with potential therapeutic properties. Additionally, it finds application in the production of advanced materials, such as polymers and coatings, due to its ability to act as a cross-linking agent or a precursor for functionalized materials. Its unique structure also makes it suitable for use in catalysis, where it can facilitate various chemical reactions, enhancing efficiency and selectivity in industrial processes.