This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the field of polymer chemistry. It serves as a key intermediate in the production of specialized polymers and macromolecules, where its structure allows for precise control over molecular architecture. The compound is often employed in the development of advanced materials, such as coatings, adhesives, and resins, due to its ability to introduce specific functional groups into polymer chains. Additionally, it finds application in the pharmaceutical industry, where it is used in the synthesis of drug delivery systems, ensuring controlled release and targeted action of active pharmaceutical ingredients. Its role in facilitating the formation of stable, tailored molecular structures makes it valuable in both industrial and research settings.