Primarily utilized in the field of organic synthesis, this compound serves as a key intermediate in the production of more complex chemical structures. Its application extends into the pharmaceutical industry, where it is used in the development of various medicinal drugs, particularly those targeting neurological disorders due to its structural compatibility with biological receptors. Additionally, it finds use in material science, contributing to the synthesis of polymers and coatings that require specific thermal and chemical resistance properties. Its role in research and development is also significant, aiding in the study of molecular interactions and the design of new compounds with potential therapeutic effects.