Used primarily in the synthesis of organic compounds, it serves as an intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows it to act as a building block for more complex molecules, particularly in the development of drugs targeting specific biological pathways. Additionally, it is employed in the manufacture of specialty chemicals, including antioxidants and stabilizers for polymers, enhancing the durability and performance of materials. In research, it is utilized for studying chemical reactions and developing new synthetic methodologies.