This chemical is primarily utilized in organic synthesis as a versatile intermediate for the preparation of various complex molecules. It is particularly valuable in the development of pharmaceuticals, where it serves as a key building block for the synthesis of active pharmaceutical ingredients (APIs). The compound's structure allows it to act as a protective group or a linker in the construction of drug molecules, enabling precise control over chemical reactions. Additionally, it finds applications in the field of material science, where it is used to modify polymers and create specialized coatings with desired properties. Its reactivity and functional groups make it a useful tool in the design and production of advanced materials and bioactive compounds.