This chemical is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active compounds. It serves as a building block for the development of potential pharmaceutical agents, particularly those targeting antimicrobial, antifungal, and anticancer activities. Its structural framework is often incorporated into molecules designed to interact with specific enzymes or receptors, enhancing therapeutic efficacy. Additionally, it is explored in material science for creating advanced polymers and coatings with specialized properties, such as improved durability or resistance to environmental factors. Its versatility makes it a valuable component in both drug discovery and industrial applications.