This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various complex organic compounds. Its unique structure makes it valuable in the development of specialty chemicals, particularly in the synthesis of polymers and resins that require specific optical or mechanical properties. Additionally, it finds application in the creation of advanced materials used in electronics, where its properties can enhance performance in components such as organic light-emitting diodes (OLEDs) or semiconductors. In research, it is often employed to study reaction mechanisms or to develop novel catalytic processes. Its versatility also extends to the pharmaceutical industry, where it may be used in the synthesis of active pharmaceutical ingredients (APIs) or as a building block for drug discovery.