Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for further functionalization, making it valuable in building complex aromatic compounds. Commonly employed in organic synthesis to introduce substituted benzoate moieties. Also utilized in the development of agrochemicals, including certain herbicides and plant growth regulators, due to its reactivity and stability in multi-step reactions.