This chemical is primarily utilized in the synthesis of advanced pharmaceutical compounds, particularly in the development of active pharmaceutical ingredients (APIs). Its unique structure, featuring a hydroxymethyloxetane group, makes it a valuable intermediate in organic synthesis, enabling the creation of complex molecules with potential therapeutic applications. It is also employed in the production of specialty chemicals, where its reactive nitrile group can be further modified to form amines, carboxylic acids, or other functional groups. Additionally, it finds use in polymer chemistry, contributing to the development of novel materials with tailored properties for industrial applications.