Primarily utilized in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the creation of compounds targeting neurological and cardiovascular diseases due to its structural properties, which allow for effective interaction with biological targets. Additionally, it is employed in the production of specialized polymers and coatings, where its chemical structure enhances material properties such as durability and adhesion. Its role in organic synthesis also extends to the development of novel chemical entities for therapeutic and industrial applications.