Used primarily as a versatile intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its unique structure allows it to participate in various reactions, including cyclization and condensation, making it valuable for constructing complex molecules. In drug development, it is employed to create biologically active compounds, particularly in the synthesis of heterocycles. Additionally, it finds application in polymer chemistry, where it acts as a monomer or crosslinking agent to modify material properties. Its stability and reactivity make it a useful tool in research and industrial processes.