Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of active ingredients requiring substituted aromatic structures. Its functional groups allow for further chemical modifications, making it valuable in creating complex organic molecules. Commonly employed in cross-coupling reactions, such as Suzuki or Heck reactions, to build biaryl systems in drug discovery. Also utilized in the preparation of specialty polymers and liquid crystals where specific steric and electronic properties are needed.