Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its reactive chloromethyl group facilitates the introduction of the oxazole moiety into complex molecules, which is valuable in drug discovery and development. It is particularly useful in the synthesis of biologically active compounds, including potential therapeutic agents targeting inflammation, infections, and other diseases. Additionally, it finds application in the preparation of heterocyclic compounds, which are essential in material science and chemical research.