This chemical is primarily utilized in organic synthesis and research applications. It serves as a key intermediate in the production of various complex molecules, particularly in the development of pharmaceuticals and agrochemicals. Its structure makes it valuable for creating derivatives that can be further modified for specific biological activities. Additionally, it is used in the study of lipid metabolism and as a precursor in the synthesis of specialty chemicals. Its role in polymer chemistry is also notable, where it contributes to the development of advanced materials with tailored properties.