Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting central nervous system disorders due to its ability to enhance bioavailability and stability. Additionally, it finds application in agrochemical research, where it contributes to the creation of novel pesticides and herbicides with improved efficacy. Its unique structural properties also make it a candidate for use in material science, particularly in the development of advanced polymers and coatings.