Used primarily in the synthesis of pharmaceuticals, it serves as a key intermediate in the production of various drugs, particularly those targeting neurological and cardiovascular conditions. Its role in the development of beta-blockers and other therapeutic agents highlights its importance in medicinal chemistry. Additionally, it finds application in biochemical research, aiding in the study of enzyme mechanisms and protein interactions due to its structural similarity to certain amino acids. In industrial settings, it is employed in the manufacture of specialty chemicals and polymers, contributing to the creation of materials with specific functional properties.