This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical compounds. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its unique structural properties that enable specific chemical reactions, such as cyclization or functional group transformations. Additionally, it finds application in material science, where it is used to synthesize specialized polymers or coatings with enhanced durability and performance characteristics. Its role in catalysis is also noteworthy, as it can act as a ligand or precursor in catalytic systems designed for industrial chemical processes.