This compound is widely utilized in the synthesis of various pharmaceuticals due to its role as an intermediate in organic reactions. It is particularly valuable in the production of active pharmaceutical ingredients (APIs) where the methoxy and chloro functional groups can be further modified to achieve desired biological activity. Additionally, it serves as a key building block in the development of agrochemicals, including herbicides and pesticides, where its structural properties contribute to the efficacy of the final product. In research and development, it is often employed in the study of esterification and substitution reactions, aiding in the exploration of new chemical pathways and compounds. Its stability and reactivity make it a versatile component in both industrial and laboratory settings.