Used primarily as an intermediate in organic synthesis, especially in the production of pharmaceuticals and agrochemicals. Its structure allows for selective transformations, making it valuable in constructing complex molecules. The chloroacetate group acts as a good leaving group, facilitating nucleophilic substitution reactions. It is also employed in the preparation of ester derivatives for fragrance and flavoring applications due to the aromatic ether component influencing odor profiles. Additionally, it may serve as a building block in the development of bioactive compounds, including potential medicinal agents targeting central nervous system disorders.