Primarily utilized in organic synthesis, this compound serves as a versatile intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting the central nervous system, where its structural properties facilitate the creation of compounds with specific receptor activity. Additionally, it finds application in the synthesis of agrochemicals, contributing to the formulation of pesticides and herbicides. Its role in polymer chemistry is also noteworthy, as it aids in the modification of polymer properties, enhancing their performance in industrial applications.