Used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting central nervous system disorders. Its structure allows for modifications that enhance drug efficacy and selectivity. Additionally, it is employed in the development of agrochemicals, contributing to the creation of pesticides and herbicides with improved performance and environmental safety. Its versatility also extends to material science, where it aids in the production of advanced polymers and coatings with specific properties like durability and resistance to degradation.