Used in the synthesis of advanced materials, particularly in the development of polymers and coatings. It serves as a key intermediate in the production of high-performance resins, enhancing durability and chemical resistance. Applied in the pharmaceutical industry for the creation of drug delivery systems, where it aids in improving the stability and bioavailability of active compounds. Also utilized in organic synthesis for constructing complex molecules with specific functional groups, contributing to research in medicinal chemistry and material science.