This chemical is primarily used as an intermediate in the synthesis of various organic compounds. It plays a key role in the production of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) that require specific functional groups for biological activity. Additionally, it is utilized in the manufacture of agrochemicals, where it contributes to the creation of herbicides, fungicides, and insecticides. Its reactive chloromethyl and hydroxyl groups make it a valuable building block in polymer chemistry, aiding in the modification of resins and coatings to enhance their properties. In research, it serves as a precursor for the development of novel chemical entities, enabling the exploration of new materials and bioactive molecules.