Used primarily as an intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals and agrochemicals. Its structure allows it to act as a building block for more complex molecules, particularly in the development of drugs targeting the central nervous system. Additionally, it is utilized in the manufacture of specialty chemicals, where its methoxymethyl group can be leveraged for further chemical modifications. In research, it serves as a reagent in various chemical reactions, including alkylation and acylation processes.