This chemical is primarily utilized in organic synthesis as a versatile intermediate. It serves as a building block in the production of various pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. Its structure allows for further functionalization, making it valuable in creating complex molecules for drug discovery and development. Additionally, it finds application in the synthesis of agrochemicals, where it contributes to the creation of active ingredients for crop protection. Its role in polymer chemistry is also notable, as it can be used to modify or enhance the properties of certain polymers.