Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals due to its reactive aldehyde and halogen groups. The compound is particularly valuable in forming carbon-carbon bonds through reactions such as Wittig or Grignard additions. It also serves in the preparation of heterocyclic compounds, which are common structural motifs in bioactive molecules. Its selective halogen substitution pattern allows for further functionalization via cross-coupling reactions like Suzuki or Heck couplings, making it useful in the development of complex organic molecules for drug discovery and crop protection agents.