Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders. It serves as a building block in the preparation of selective receptor modulators due to its halogenated biphenyl structure, which enhances binding affinity and metabolic stability. Also employed in the production of agrochemicals and functional materials where aromatic scaffolds with specific substitution patterns are required. Its hydroxyl and chlorine groups allow for further chemical modifications, making it valuable in medicinal chemistry research and development.