Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its reactive chloromethyl group, which facilitates further chemical modifications. Additionally, it plays a role in the synthesis of complex molecules, including ligands for catalysis and materials for chemical research. Its application extends to the preparation of pyridine derivatives, which are essential in various industrial and medicinal chemistry processes.