This chemical is primarily utilized in the development of advanced materials and pharmaceuticals due to its unique structural properties. Its application is significant in the synthesis of organic compounds, particularly in the field of medicinal chemistry, where it serves as a key intermediate in the creation of potential drug candidates. The compound's structure allows it to interact with biological targets, making it valuable in the design of inhibitors or modulators for specific enzymes or receptors. Additionally, it finds use in material science for the development of novel polymers or coatings with specialized properties, such as enhanced durability or chemical resistance. Its role in research and development underscores its importance in both industrial and academic settings.