Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of angiotensin II receptor antagonists which are employed to treat hypertension. It serves as a building block in organic reactions where the chloro group can be displaced to form carbon-heteroatom or carbon-carbon bonds. Also utilized in the development of liquid crystals and agrochemicals due to its stable aromatic structure and functionalizability. Its ethoxybenzyl moiety contributes to lipophilicity, enhancing membrane permeability in drug candidates.