Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting anti-inflammatory and anti-cancer properties. Its structural features make it valuable in the development of biologically active molecules, often enhancing their efficacy and stability. Additionally, it finds application in material science, where it is incorporated into advanced polymers and coatings to improve their chemical resistance and durability. In research, it is utilized as a building block for creating complex organic compounds, aiding in the exploration of new chemical reactions and pathways.