Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its functional groups allow for easy modification, making it valuable in forming esters, amides, and ether derivatives in drug development. Commonly employed in organic synthesis to introduce aromatic carboxylic acid moieties with reactive chloromethyl side chains. Also utilized in the preparation of agrochemicals and specialty polymers where controlled reactivity is required.