This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and bioactive compounds. It plays a role in the development of drugs targeting various therapeutic areas, including cardiovascular, neurological, and anti-inflammatory treatments. Its structure, featuring both hydroxyl and carbamate groups, makes it valuable for introducing specific functional groups into more complex molecules. Additionally, it is utilized in the preparation of polymers and coatings, where its properties contribute to enhanced stability and performance. Its application in research and development also extends to the study of chemical reactions and the synthesis of novel compounds with potential industrial or medicinal significance.