Used in the synthesis of polymers with high thermal stability and mechanical strength, making it valuable in the production of advanced materials for aerospace and automotive industries. It serves as a monomer in ring-opening metathesis polymerization (ROMP) to create specialized polymers with tailored properties. Additionally, it is employed in the development of pharmaceuticals, particularly in the design of drug delivery systems due to its ability to form biocompatible polymers. Its unique structure also makes it a useful intermediate in organic synthesis for creating complex molecules with specific functionalities.