It is widely used in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its role in drug development is crucial, particularly in the production of compounds targeting neurological and cardiovascular disorders. Additionally, it finds application in research laboratories for studying biochemical pathways and developing new therapeutic agents. Its stability and reactivity make it a valuable component in organic synthesis, enabling the creation of complex molecular structures. In material science, it is utilized in the development of advanced polymers and coatings, enhancing their performance characteristics. Its versatility also extends to the field of agrochemicals, where it contributes to the formulation of effective crop protection products.