This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure makes it valuable for constructing pharmaceuticals, particularly in the development of drugs targeting neurological and cardiovascular conditions. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides that enhance crop protection. Researchers also explore its potential in material science, where it can be used to develop novel polymers and coatings with specific properties. Its versatility in chemical reactions makes it a useful building block in various industrial and research applications.