Used primarily as an intermediate in organic synthesis, this compound plays a key role in the preparation of pharmaceuticals and agrochemicals. Its reactive functional groups allow for the introduction of chloro and acetoxy moieties in multi-step reactions. It is particularly valuable in the synthesis of heterocyclic compounds and active pharmaceutical ingredients where controlled substitution is required. Due to its lachrymatory properties and reactivity, it is handled with care in controlled environments for specialized chemical transformations.