Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its reactive acyl chloride group makes it valuable for forming amides and esters, which are essential in drug development. It is particularly useful in the synthesis of compounds with potential therapeutic applications, such as anti-inflammatory and antimicrobial agents. Additionally, it can be employed in the creation of specialty polymers and coatings, where its benzyloxyphenyl group contributes to specific material properties like stability and solubility. Its versatility in chemical reactions makes it a valuable tool in research and industrial applications.