Used as an intermediate in organic synthesis, particularly in pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in constructing complex molecules. The chloromethyl group can undergo nucleophilic substitution reactions, enabling the introduction of the benzoate moiety into larger systems. Commonly employed in the development of active pharmaceutical ingredients where ester and benzene ring functionalities are required. Also utilized in the preparation of ligands and catalysts in specialized chemical reactions.