Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting the central nervous system, where its structure contributes to the creation of compounds with potential therapeutic effects. Additionally, it is employed in the synthesis of agrochemicals, aiding in the formulation of pesticides and herbicides. Its role in polymer chemistry is also notable, as it can be utilized to modify polymers, enhancing their properties for specific industrial applications.