Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and agrochemicals. Its reactive chloromethyl group allows for easy attachment to other molecules, making it valuable in constructing complex organic structures. It is also employed in the synthesis of natural product analogs and bioactive compounds, particularly those involving methylenedioxy-containing scaffolds. Due to its ability to cross cell membranes, derivatives formed from this compound are sometimes explored in medicinal chemistry for drug development.