This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and cardiovascular conditions. Its structure allows it to act as an intermediate in the production of drugs that modulate neurotransmitter activity, making it valuable in the development of antidepressants and anxiolytics. Additionally, it is employed in the creation of bioactive molecules for research purposes, aiding in the study of receptor interactions and drug efficacy. Its allyloxy group also makes it a useful component in polymer chemistry, where it can be incorporated into resins and coatings to enhance their properties.