Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of active pharmaceutical ingredients (APIs) where the chloromethyl group can be further functionalized. Additionally, it is employed in the manufacture of specialty chemicals, including dyes and fragrances, due to its reactive chloromethyl moiety. Its application extends to research and development laboratories for creating complex organic molecules with specific functional groups.