Primarily utilized in materials science, this compound serves as a key building block in the synthesis of advanced polymers and high-performance materials. Its unique structure allows it to participate in click chemistry reactions, particularly inverse electron demand Diels-Alder reactions, enabling the creation of complex molecular architectures. This makes it valuable in the development of functional materials, such as conductive polymers, organic semiconductors, and light-emitting diodes (LEDs). Additionally, it finds applications in bioconjugation techniques, where it is used to label biomolecules for imaging and diagnostic purposes. Its role in crosslinking reactions also contributes to the production of durable coatings and adhesives in industrial settings.