Used primarily in the production of high-performance polymers and resins, this compound enhances material properties such as durability and thermal stability. It serves as a key intermediate in the synthesis of polyesters and polyurethanes, which are widely utilized in coatings, adhesives, and elastomers. Additionally, it finds application in the pharmaceutical industry as a building block for drug development, particularly in creating compounds with specific stereochemistry. Its role in organic synthesis also extends to the manufacture of specialty chemicals and fine chemicals, where precise molecular structures are critical.