Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It is often employed in the formation of oximes, which are valuable in the synthesis of various bioactive compounds. Additionally, it serves as a protecting group for carbonyl compounds in complex organic reactions, aiding in the selective modification of molecules. Its applications also extend to the development of agrochemicals and materials science, where it contributes to the creation of specialized polymers and coatings.