This chemical is primarily used as an intermediate in the synthesis of organic compounds, particularly in the production of UV absorbers and stabilizers for polymers. It is also employed in the development of liquid crystal displays (LCDs) due to its ability to enhance the stability and performance of liquid crystal materials. Additionally, it finds application in the preparation of fine chemicals and pharmaceutical ingredients, where its structural properties contribute to the creation of bioactive molecules. Its role in organic synthesis often involves acting as a building block for more complex structures, making it valuable in research and industrial processes.