Used primarily as a chemical intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and agrochemicals. It functions as a protecting group carrier for amines due to its ability to form carbamate derivatives. Its acetyl and ester functionalities allow for selective reactions in multi-step synthesis. It is also employed in the development of prodrugs, where controlled release of active amines is required. Additionally, it finds use in the synthesis of polymers and specialty esters where tailored reactivity and stability are needed.