Primarily used in organic synthesis, this compound serves as a key intermediate in the production of more complex chemical structures. It is particularly valuable in the development of pharmaceuticals, where it can be utilized to create active ingredients with specific therapeutic properties. Additionally, it finds application in material science, contributing to the synthesis of advanced polymers and liquid crystals, which are essential in various high-tech industries. Its reactivity allows for precise modifications, making it a versatile tool in research and industrial processes.