Used as an intermediate in the synthesis of fragrances and pharmaceuticals. It serves in the production of chiral compounds due to its stereochemistry, making it valuable in asymmetric synthesis. Commonly found in the development of agrochemicals and fine chemicals where a phenyl-substituted alcohol moiety is required. Also utilized in the preparation of liquid crystals and specialty polymers. Its structural similarity to certain bioactive molecules allows use in medicinal chemistry research for drug discovery.