Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is also utilized in the manufacture of fragrances and flavors due to its ability to impart a distinct aroma. Additionally, it plays a role in the development of specialty chemicals, including polymers and resins, where its structural properties are beneficial. In research, it is often employed as a building block for more complex molecules, aiding in the study of chemical reactions and pathways.