This chemical is primarily used in organic synthesis as a versatile intermediate. It is particularly valuable in the preparation of sulfonate esters, which are crucial in various chemical reactions, including polymerization processes. The compound's unique structure allows it to act as a precursor in the development of specialty chemicals, such as surfactants and detergents, where sulfonate groups enhance solubility and stability. Additionally, it finds application in pharmaceutical research, where it is utilized to modify or synthesize active pharmaceutical ingredients (APIs) with improved bioavailability or efficacy. Its role in creating functional materials, such as coatings or adhesives, is also noteworthy, as it contributes to the enhancement of material properties like adhesion and durability.