Used primarily as an intermediate in organic synthesis, this compound is valuable in the production of various chemicals, including pharmaceuticals and agrochemicals. It serves as a building block for creating more complex molecules due to its reactive epoxide group, which can undergo ring-opening reactions. In the pharmaceutical industry, it is utilized to develop active pharmaceutical ingredients (APIs) and other therapeutic compounds. Additionally, it finds application in the synthesis of specialty chemicals, such as surfactants and polymers, where its reactivity is leveraged to modify or enhance material properties. Its role in fine chemical manufacturing highlights its importance in advancing industrial and medicinal chemistry.