Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of local anesthetics and vasoconstrictor agents. It plays an important role in the preparation of compounds like tetracaine and other amino ester-type anesthetics due to its ability to form amide and imine linkages. Its aldehyde functionality allows for easy modification in multi-step organic syntheses, making it valuable in fine chemical and medicinal chemistry research. Also utilized in the development of agrochemicals and specialty polymers where tailored molecular structure is required.