Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the synthesis of antihistamines and other medicinal agents due to its reactive chloromethyl group, which facilitates the introduction of additional functional groups. Additionally, it is employed in the development of agrochemicals, contributing to the creation of pesticides and herbicides. Its role in research and development is also significant, as it aids in the study of chemical reactions and the design of new compounds with potential therapeutic applications.