This compound is primarily utilized in the synthesis of various agrochemicals, particularly herbicides and fungicides, due to its structural features including the 2,4-dichlorophenyl moiety and 2-hydroxypropanoate group. It serves as a key intermediate in the production of active ingredients that control unwanted vegetation and fungal infections in crops, contributing to improved agricultural yields. Additionally, it finds application in research and development for creating novel compounds with potential biological activity, aiding in the discovery of new pest control solutions. Its role in organic synthesis also extends to the pharmaceutical industry, where it may be used in the preparation of intermediates for drug development.