This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the production of pharmaceuticals, where its unique structure aids in the creation of complex molecules. Additionally, it serves as a building block in the synthesis of agrochemicals, contributing to the development of pesticides and herbicides. Its application extends to the field of material science, where it is used in the preparation of specialized polymers and coatings. The compound's reactivity and stability make it a valuable component in various industrial and research processes.