Used as a key intermediate in organic synthesis, particularly in the preparation of complex molecules. It is often employed in the protection of carbonyl groups during multi-step chemical reactions. The compound is also utilized in the synthesis of pharmaceuticals, where it aids in the formation of specific molecular structures. Additionally, it finds application in the production of specialty chemicals, including agrochemicals and fine chemicals, due to its reactivity and stability under various conditions. Its role in facilitating efficient and selective transformations makes it valuable in research and industrial chemistry.