This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and specialty chemicals. It plays a role in the formation of complex molecules by acting as a reactive building block. Its benzyloxy group makes it valuable in protecting and deprotecting strategies during multi-step synthesis processes. Additionally, it can be utilized in the development of active pharmaceutical ingredients (APIs) where specific functional groups are required for biological activity. Its application extends to research and development in medicinal chemistry, where it aids in the creation of novel compounds with potential therapeutic effects.