Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as an esterifying agent and acylating reagent in the formation of more complex molecules. Commonly employed in the synthesis of beta-lactam antibiotics due to its ability to introduce phenyl and chloroacetyl functionalities. Also utilized in the production of dyes and fragrances where controlled esterification is required. Its reactivity makes it suitable for use in Friedel-Crafts acylation and other electrophilic reactions under controlled conditions.