Used primarily as an intermediate in the synthesis of pharmaceuticals and fine chemicals. Its structure allows for further functionalization in multi-step reactions, particularly in the development of active pharmaceutical ingredients (APIs). The presence of hydroxy and chlorophenyl groups makes it suitable for use in condensation and coupling reactions. It may also serve as a building block in the preparation of specialty polymers and ligands for metal-catalyzed reactions. Due to its reactivity, it is handled under controlled conditions in industrial and laboratory settings.