This chemical is primarily utilized as a key intermediate in the synthesis of advanced materials, particularly in the production of ultraviolet (UV) absorbers and stabilizers. It plays a significant role in enhancing the durability and performance of polymers, coatings, and plastics by protecting them from UV-induced degradation. Additionally, it is employed in the development of specialty chemicals for agricultural applications, where it contributes to the formulation of herbicides and pesticides. Its unique structure also makes it valuable in organic synthesis for creating complex molecules in pharmaceutical research and development.