Used primarily in organic synthesis, this compound serves as a key intermediate in the development of various pharmaceuticals, particularly in the creation of anti-inflammatory and analgesic drugs. Its structure allows for further functionalization, making it valuable in the design of bioactive molecules. Additionally, it is employed in the research and development of agrochemicals, contributing to the synthesis of compounds with potential pesticidal or herbicidal properties. In material science, it is utilized in the preparation of specialized polymers and coatings, where its unique chemical properties enhance performance characteristics.