Used primarily as a building block in organic synthesis, this compound serves as a protected form of formaldehyde or as a precursor to tetrahydropyranyl (THP) protecting groups for alcohols and other functional groups. Its hydroxyl group can be easily modified, making it valuable in the preparation of pharmaceuticals, agrochemicals, and fine chemicals. It is also employed in the synthesis of complex natural products where temporary protection of reactive sites is required. The cyclic ether structure enhances stability and solubility in various reaction media, supporting its use in multi-step synthetic routes.