This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of various pharmaceutical compounds, where its benzyloxy group serves as a protective group for alcohols during multi-step reactions. Additionally, it finds application in the development of specialty chemicals, including fragrances and flavoring agents, due to its ability to modify and enhance specific properties. Its role in polymer chemistry is also notable, where it can be used to synthesize functionalized polymers with tailored characteristics. The compound’s reactivity and stability make it a valuable component in research and industrial processes.