This chemical is primarily utilized in the synthesis of chiral compounds, particularly in the pharmaceutical industry, where it serves as a building block for active pharmaceutical ingredients (APIs). Its chiral nature makes it valuable in the production of enantiomerically pure drugs, enhancing their efficacy and reducing side effects. Additionally, it is employed in the development of fine chemicals and specialty materials, contributing to advancements in organic synthesis. Its application also extends to research and development, where it is used as a reference standard or intermediate in various chemical reactions.