Used as a key intermediate in the synthesis of triazole-based pharmaceuticals, particularly in antiviral and antifungal agents. Its reactive chloromethyl group allows for easy alkylation, making it valuable in constructing heterocyclic compounds for drug development. Also employed in agrochemicals to create herbicides and plant growth regulators due to its ability to modify bioactive molecules. Its stability and reactivity profile support use in solid-phase synthesis and combinatorial chemistry for rapid compound library generation.