This chemical is primarily used as an intermediate in organic synthesis. Its structure, featuring a 1,3-dioxolane ring as a protecting group for diols and an ester functionality, makes it suitable for applications in the production of pharmaceuticals, where it acts as a chiral building block for more complex molecules. It is also employed in the synthesis of fine chemicals and agrochemicals due to its reactivity and stability under various conditions. Additionally, it can be utilized in the development of specialty polymers and coatings, where its properties contribute to the desired performance characteristics of the final product.