Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for easy functionalization, making it valuable in building complex organic compounds. Commonly employed in Friedel-Crafts acylation and esterification reactions to form fluorinated analogs with enhanced metabolic stability. Also utilized in the development of agrochemicals and specialty polymers where fluorine substitution improves performance characteristics.