Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of more complex molecules for pharmaceuticals and agrochemicals. Its functional groups—chloro and hydroxyl—allow for selective reactions, enabling the construction of carbon chains or introduction of heteroatoms. It is also employed in the development of specialty surfactants and biocides due to its reactivity and moderate lipophilicity. In research settings, it acts as a building block for synthesizing beta-blocker analogs and other bioactive compounds.