Used primarily in organic synthesis as a building block for cross-coupling reactions, especially in Suzuki-Miyaura coupling. The boronate ester group enables formation of carbon-carbon bonds, making it valuable in pharmaceutical and agrochemical synthesis. The tert-butyl ester group acts as a protected form of carboxylic acid, allowing selective deprotection under mild acidic conditions to release the corresponding acid when needed. Its phenoxyacetic acid framework is common in bioactive molecules, so this compound serves as an intermediate in the preparation of drug candidates and functional materials. Soluble in common organic solvents, it is suitable for use in multistep synthetic routes.