This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of polymers and resins. It serves as a key intermediate in the production of specialty chemicals used in coatings, adhesives, and sealants, offering enhanced durability and resistance to environmental factors. Additionally, it finds application in the pharmaceutical industry, where it is employed in the creation of active pharmaceutical ingredients (APIs) for therapeutic drugs. Its unique structure allows it to participate in reactions that form complex molecules, making it valuable in advanced material science and drug discovery processes.