Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly in the development of antihistamines and other therapeutic agents. It is also employed in the synthesis of dyes and pigments, where its aldehyde group facilitates the formation of complex colorants. Additionally, it finds application in the preparation of corrosion inhibitors, which are essential in protecting metal surfaces in industrial settings. Its role in the creation of fine chemicals and specialty materials further underscores its versatility in chemical manufacturing processes.