Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various agrochemicals, particularly herbicides. It is employed in the modification of phenoxyacetic acid derivatives, which are crucial for developing compounds that regulate plant growth or act as selective weed control agents. Additionally, it finds application in the pharmaceutical industry for synthesizing active pharmaceutical ingredients (APIs) and in research laboratories for creating specialized organic molecules. Its reactivity with amines and alcohols makes it valuable for constructing complex chemical structures in drug discovery and material science.