This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the development of various drugs, including those targeting central nervous system disorders. Its structure is beneficial in creating compounds with specific binding properties, which are essential for therapeutic agents. Additionally, it finds application in material science, where it is used to develop advanced polymers and coatings with enhanced properties. Its role in research and development is significant, contributing to innovations in both medicinal chemistry and industrial applications.