Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of compounds with potential therapeutic effects, such as inhibitors or modulators of biological pathways. Additionally, it plays a role in the synthesis of specialty chemicals used in research and industrial applications, where its reactive chloroethyl group facilitates further chemical modifications. Its applications are often centered around creating complex molecules for medicinal chemistry and material science.