Used primarily in organic synthesis, this chemical serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of complex molecules due to its reactive functional groups, which facilitate the formation of carbon-carbon and carbon-nitrogen bonds. Additionally, it is employed in the development of fine chemicals and specialty materials, where its structural properties enable the creation of tailored compounds with specific functionalities. Its role in asymmetric synthesis also makes it useful in the preparation of chiral compounds, which are essential in many biologically active substances.