Primarily used in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. It serves as a key building block in the creation of complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). Additionally, it is employed in the synthesis of fragrances and flavors, contributing to the formulation of aromatic compounds used in perfumes and food products. Its benzyloxy group makes it a versatile reagent in protecting group chemistry during multi-step synthetic processes.