Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for further functionalization, making it valuable in medicinal chemistry for building complex aromatic compounds. It is also employed in the development of agrochemicals, including herbicides and plant growth regulators, due to its reactivity and stability in multi-step reactions. Additionally, it serves as a building block in the preparation of dyes and specialty organic compounds where chloro- and methoxy-substituted aromatic esters are required.