This chemical is widely used in organic synthesis as a versatile intermediate. It serves as a key reagent in the preparation of various esters and other functionalized compounds. Its tosyloxy group makes it a valuable substrate for nucleophilic substitution reactions, enabling the introduction of new functional groups into target molecules. In pharmaceutical research, it is employed in the synthesis of active pharmaceutical ingredients (APIs) and complex molecules. Additionally, it finds application in the development of agrochemicals, where it aids in creating compounds with specific biological activities. Its role in polymer chemistry is also notable, as it can be used to modify polymer chains or create specialty polymers with tailored properties.