Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of complex molecules due to its reactive functional groups, which facilitate the formation of carbon-carbon and carbon-heteroatom bonds. Additionally, it is employed in the development of novel materials, including polymers and coatings, where its structural properties contribute to enhanced performance characteristics. In research, it is utilized to study reaction mechanisms and to develop new synthetic methodologies.