Used in the synthesis of pharmaceutical intermediates, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its functional groups allow for selective transformations in organic synthesis, making it valuable in constructing complex aromatic compounds. Commonly employed in coupling reactions and as a building block in medicinal chemistry for introducing substituted phenylacetic acid moieties. Also utilized in the preparation of agrochemicals and specialty polymers due to its reactivity and structural stability.