Used as a chiral building block in the synthesis of biologically active compounds, particularly in pharmaceuticals where stereochemistry plays a critical role. Its structure allows for selective functionalization, making it valuable in asymmetric synthesis. Commonly employed in the preparation of β-blockers and other cardiovascular drugs due to its ability to introduce a chiral 1,2-diol motif. Also utilized in agrochemicals for the development of enantiomerically pure pesticides and herbicides. The chloromethyl group serves as a reactive handle for further chemical transformations, enabling coupling reactions with nucleophiles such as amines or thiols.