Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the Wittig reaction, where it helps in the formation of carbon-carbon double bonds, essential for creating complex organic molecules. Additionally, it is utilized in the synthesis of fine chemicals and specialty materials, contributing to advancements in material science and drug development. Its role in facilitating precise chemical transformations makes it a crucial component in research and industrial applications.