Used primarily as an intermediate in the synthesis of pharmaceuticals, agrochemicals, and fragrances. It serves as a building block in the production of active ingredients in certain drugs due to its ability to cross biological membranes effectively. Commonly employed in the preparation of phenethylamine derivatives, which are found in central nervous system agents and vasopressor substances. Also utilized in the manufacture of specialty polymers and as a solvent or reagent in organic transformations requiring moderate polarity and stability.