Used primarily as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its reactivity allows for the introduction of benzoate ester functionalities and chloroethyl groups into larger molecules, making it valuable in the development of active pharmaceutical ingredients (APIs). It also finds use in research settings for constructing cyclic compounds through intramolecular reactions. Due to the presence of the reactive chloro group, it can participate in alkylation reactions, enabling the formation of carbon-oxygen and carbon-nitrogen bonds. Its application is mostly confined to laboratory and industrial synthesis rather than end-use products.