Used as a key intermediate in the synthesis of anticoagulant drugs and coumarin-based derivatives. Its reactive chloromethyl group allows for easy alkylation or attachment to other molecular frameworks, making it valuable in pharmaceutical research. Commonly employed in the development of vitamin K antagonists and fluorescent probes due to the inherent optical properties of the coumarin core. Also utilized in the preparation of functionalized polymers and agrochemicals where controlled reactivity and stability are required.