Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of anticoagulant drugs and anti-inflammatory agents. It serves as a building block in organic reactions due to the presence of both aldehyde and hydroxyl functional groups, enabling the formation of heterocyclic compounds. Also employed in the development of agrochemicals and dyes, where its chloro and hydroxy substituents contribute to molecular stability and reactivity. Its structure allows for selective modifications, making it valuable in research and development of new bioactive molecules.