Used as an intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of central nervous system agents. Its structure supports the creation of molecules with neuroprotective or neuromodulatory effects. Also employed in the preparation of specialty polymers and resins, where it contributes to thermal stability and mechanical strength. Additionally, derivatives of this compound are explored in agrochemical research for potential use in crop protection agents due to their structural versatility and reactivity.