Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of steroids and other complex organic molecules due to its stable cyclohexane ring structure. Additionally, it finds application in the development of dyes and pigments, where its chemical properties help in achieving desired color fastness and stability. In research, it is utilized for studying reaction mechanisms and developing new synthetic routes for complex organic compounds. Its versatility and reactivity make it a crucial component in both industrial and academic chemical processes.