Used primarily in the synthesis of chiral compounds, it serves as a key intermediate in the production of pharmaceuticals, particularly nonsteroidal anti-inflammatory drugs (NSAIDs). Its enantiomeric purity is crucial for enhancing drug efficacy and reducing side effects. Additionally, it is employed in agrochemical research to develop herbicides with improved selectivity and activity. The compound’s role in asymmetric synthesis also makes it valuable in creating fine chemicals and specialty materials.