Used as an intermediate in organic synthesis, particularly in the preparation of β-blockers and other pharmaceutical agents. The compound's chloro and benzyloxy functional groups allow for selective transformations, making it valuable in constructing chiral molecules. It is employed in the synthesis of cardioselective drugs where the propionate backbone serves as a key structural element. The benzyl protecting group can be removed under mild conditions, enabling further functionalization in multi-step reactions. Its potassium salt form enhances solubility in polar solvents, facilitating reaction handling in aqueous or mixed solvent systems.