This compound is primarily utilized in the synthesis of pharmaceuticals and fine chemicals due to its chiral properties. It serves as a key intermediate in the production of optically active compounds, particularly in the development of drugs where stereochemistry plays a critical role in efficacy. Additionally, it is employed in organic synthesis for the preparation of esters and other derivatives, which are further used in the manufacture of fragrances, flavors, and specialty chemicals. Its application is also seen in research and development for creating novel molecules with potential therapeutic benefits.