Used as a key chiral building block in the synthesis of pharmaceuticals, particularly in the production of β-blockers like (S)-propranolol and other active pharmaceutical ingredients where stereochemistry is critical. Its epoxide ring readily undergoes nucleophilic opening, enabling the introduction of functional groups in a stereoselective manner. Also employed in the preparation of fine chemicals, agrochemicals, and chiral ligands for asymmetric catalysis. Due to its enantiomeric purity, it plays a vital role in routes requiring high optical selectivity.