Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of local anesthetics and antiarrhythmic drugs. Its structure allows for further functionalization, making it valuable in creating active pharmaceutical ingredients. Commonly employed in organic synthesis to introduce chlorinated aromatic moieties with methoxy and hydroxymethyl groups, which can influence the bioavailability and binding affinity of final drug compounds. Also utilized in the development of agrochemicals and specialty chemicals requiring specific substitution patterns on aromatic rings.