Used as a key intermediate in organic synthesis, particularly in the preparation of dimethylaminomethyl derivatives. It serves in the pharmaceutical industry for synthesizing active pharmaceutical ingredients where a dimethylaminomethyl group is required. Commonly employed in Mannich reactions to introduce amine functionalities into molecules. Also utilized in the production of specialty resins and as a reagent in the development of dyes and functional polymers. Its reactivity makes it valuable for creating complex organic structures under controlled conditions.