This chemical is primarily used in the synthesis of polymers and coatings, where it acts as a reactive intermediate. It is particularly valuable in the production of water-based resins and adhesives, enhancing their flexibility and durability. Additionally, it finds application in the development of pharmaceutical compounds, serving as a building block for drug molecules due to its unique structural properties. In the field of organic electronics, it is utilized in the fabrication of materials for optoelectronic devices, contributing to improved performance and stability.