Used primarily in organic synthesis, this compound serves as a versatile intermediate in the production of various chemicals. It is particularly valuable in the synthesis of specialty polymers and resins, where it contributes to enhancing thermal stability and mechanical properties. Additionally, it finds application in the development of advanced materials, such as coatings and adhesives, due to its ability to improve durability and resistance to environmental factors. In pharmaceutical research, it is utilized as a building block for creating complex molecules with potential therapeutic effects. Its unique structure also makes it suitable for use in catalysis and as a ligand in coordination chemistry, facilitating specific chemical reactions.