Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its functional groups allow for easy modification in multi-step organic syntheses, making it valuable in creating biologically active molecules. Commonly employed in the preparation of antihypertensive drugs and neuroactive compounds due to its ability to cross the blood-brain barrier. Also utilized in the production of agrochemicals and specialty polymers where chloro- and methoxy-substituted aromatic building blocks are required.