This chemical is primarily used in the development of advanced materials, particularly in the field of nanotechnology. It serves as a key component in the synthesis of nanostructures, which are essential for creating high-performance electronic devices and sensors. Additionally, it is employed in the production of specialized coatings that enhance the durability and resistance of surfaces to environmental factors such as corrosion and UV radiation. In the pharmaceutical industry, it acts as an intermediate in the synthesis of active pharmaceutical ingredients (APIs) that are used in the treatment of various medical conditions. Its unique properties also make it valuable in research and development for exploring new applications in energy storage and conversion technologies.