This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and cardiovascular conditions. It serves as a key intermediate in the production of drugs that modulate neurotransmitter activity or enhance blood flow. Additionally, it is employed in the development of cosmetic formulations, where it acts as a conditioning agent to improve skin and hair hydration. In research, it is used to study protein interactions and enzyme mechanisms due to its ability to form stable complexes with biomolecules. Its versatility also extends to industrial applications, such as in the production of adhesives and coatings, where it enhances bonding properties and durability.