Primarily utilized in the synthesis of pharmaceutical compounds, it serves as a key intermediate in the production of various drugs, particularly those targeting cardiovascular and central nervous system disorders. It is also employed in the development of chelating agents, which are crucial in water treatment processes to remove metal ions. Additionally, this chemical finds application in the manufacture of surfactants and corrosion inhibitors, enhancing the performance of industrial cleaning agents and protective coatings. Its role in polymer chemistry is notable, where it contributes to the creation of resins and adhesives with improved properties.