Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic receptor agonists and related central nervous system agents. It plays a key role in the development of compounds for treating neurological disorders such as Alzheimer's and Parkinson's disease. Also utilized in agrochemical formulations for crop protection due to its ability to modify bioactive molecules. Its chloromethyl group enables easy functionalization, making it valuable in organic synthesis and medicinal chemistry research.