This compound is primarily used in organic synthesis as a chiral building block. Its structure, featuring both a hydroxyl group and an ester functional group, makes it valuable for constructing complex molecules in pharmaceuticals and fine chemicals. It is often employed in asymmetric synthesis to introduce chirality into target molecules, which is crucial for developing enantiomerically pure drugs. Additionally, it serves as an intermediate in the production of fragrances and flavoring agents, where its specific stereochemistry contributes to the desired sensory properties. Its stability and reactivity also make it suitable for use in polymer chemistry, particularly in the synthesis of specialized resins and coatings.