This chemical is primarily utilized in the synthesis of polymers and resins, where it acts as a key intermediate. Its structure allows it to contribute to the development of high-performance materials with enhanced thermal stability and mechanical properties. It is also employed in the production of specialty coatings and adhesives, where its unique properties help improve durability and resistance to environmental factors. Additionally, it finds use in the pharmaceutical industry as a building block for certain drug formulations, particularly those requiring specific solubility and stability characteristics. In research, it serves as a valuable reagent for developing new chemical compounds with potential industrial or medicinal applications.