Used primarily in the synthesis of various organic compounds, it serves as a key intermediate in the production of fragrances and flavors. It is also employed in the creation of certain pharmaceuticals, where it acts as a building block for active ingredients. In agrochemicals, it plays a role in formulating pesticides and insecticides. Additionally, it is utilized in research and development for designing new chemical entities with potential industrial applications. Its reactivity makes it valuable in organic synthesis, particularly in acylations and other transformations.