Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the construction of complex molecules due to its reactive chloromethyl group, which facilitates further chemical modifications. Additionally, it finds application in agrochemical production, where it contributes to the creation of novel pesticides and herbicides. Its versatility also extends to material science, where it is employed in the development of specialized polymers and coatings.