Used as a key intermediate in organic synthesis, particularly in cycloaddition reactions such as Diels-Alder, where it acts as an electron-deficient dienophile for forming carbon-carbon bonds. It serves as a building block for the development of pharmaceuticals, where it aids in the creation of active compounds with potential therapeutic effects. Additionally, it is utilized in the production of specialty chemicals, including dyes and pigments, due to its ability to form stable and reactive intermediates. Its unique structure also makes it valuable in material science for designing polymers and advanced materials with specific properties.