Primarily utilized in the field of organic synthesis, this compound serves as a key intermediate in the production of more complex chemical entities. Its unique structure makes it valuable in the development of pharmaceuticals, particularly in the synthesis of compounds with potential biological activity. Researchers leverage its reactivity to construct novel molecules that could lead to new therapeutic agents. Additionally, it finds application in material science, where it is used to modify the properties of polymers, enhancing their performance for specific industrial applications. Its role in these areas underscores its importance in advancing both health-related and material innovations.