This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the development of pharmaceuticals, particularly in the creation of complex molecules with potential therapeutic properties. Its unique structure allows it to act as a building block in the synthesis of various bioactive compounds, including those with anti-inflammatory or antimicrobial activities. Additionally, it is employed in materials science for the development of specialized polymers and coatings, where its chemical properties enhance durability and performance. Researchers also explore its potential in agrochemical formulations to improve the efficacy of pesticides or herbicides.