Used as a key intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It plays a crucial role in the formation of benzofuran derivatives, which are known for their biological activities, including antimicrobial, anti-inflammatory, and anticancer properties. Additionally, it is employed in the development of dyes, pigments, and other fine chemicals due to its reactive carbonyl chloride group, which facilitates various acylation reactions. Its versatility makes it valuable in research and industrial applications for creating complex organic compounds.