Used primarily as an intermediate in organic synthesis, especially in the production of advanced polymer materials. It serves as a building block in the preparation of metallocene catalysts, which are critical in the stereospecific polymerization of olefins like propylene and ethylene. These catalysts enable the manufacture of high-performance polyolefins with controlled molecular structure, leading to improved mechanical and thermal properties in plastics. Its substituted indene structure provides steric and electronic stabilization to catalyst complexes, enhancing their efficiency and selectivity. Also explored in the development of specialty chemicals for agrochemicals and pharmaceuticals due to its stable aromatic framework and functionalization potential.