This chemical is primarily utilized in organic synthesis as a versatile building block for the creation of more complex molecules. It is often employed in the development of pharmaceutical compounds, where its structure allows for the introduction of specific functional groups that are crucial for biological activity. Additionally, it serves as an intermediate in the production of agrochemicals, contributing to the synthesis of pesticides and herbicides. Its unique properties also make it suitable for use in material science, particularly in the design of polymers and coatings with enhanced performance characteristics.