This compound is primarily utilized in the synthesis of various pharmaceuticals and agrochemicals due to its reactive chloromethyl group, which allows for further functionalization. It serves as a key intermediate in the production of triazole-based compounds, which are known for their biological activity, including antifungal, antibacterial, and herbicidal properties. Additionally, it is employed in the development of heterocyclic compounds used in medicinal chemistry for drug discovery and optimization. Its versatility in chemical reactions makes it valuable for creating diverse molecular structures with potential therapeutic or agricultural applications.