Widely used in the synthesis of chiral compounds, particularly in pharmaceutical research where enantiomeric purity is crucial. It serves as a key intermediate in the production of beta-blockers and other cardiovascular drugs, ensuring high specificity and efficacy. Additionally, it is employed in the development of biodegradable polymers and surfactants, contributing to environmentally friendly materials. Its role in asymmetric synthesis also extends to the creation of fine chemicals and agrochemicals, enhancing the precision of chemical reactions.