Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of antiviral and antiretroviral drugs. It plays a role in the development of nucleoside analogs, which are crucial for treating viral infections such as HIV and hepatitis. Additionally, it is utilized in organic chemistry research for constructing complex molecules due to its reactive hydroxymethyl group. Its application extends to the field of agrochemicals, where it contributes to the creation of compounds that enhance crop protection and yield.