Primarily used as a monomer in the synthesis of polymers, this compound is valuable in creating materials with specific properties like thermal stability and mechanical strength. It is also employed in the development of coatings and adhesives, where its chemical structure enhances durability and resistance to environmental factors. Additionally, it finds application in organic synthesis as an intermediate for producing various pharmaceuticals and agrochemicals, contributing to the development of new drugs and crop protection agents. Its versatility makes it a key component in advanced material science and industrial chemistry.