This chemical is primarily utilized in organic synthesis as a building block for more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the creation of compounds with potential therapeutic properties. Its structure allows it to act as an intermediate in the synthesis of various biologically active molecules, including those targeting specific enzymes or receptors. Additionally, it can be used in material science for the preparation of polymers or coatings with specialized properties. Its reactivity and functional groups make it a versatile component in research and industrial applications.