Used as an intermediate in the synthesis of agrochemicals and pharmaceuticals, particularly in the production of herbicides and fungicides. It serves as a building block in organic reactions where the chloro and methoxy groups allow for selective functionalization. Commonly employed in cross-coupling reactions such as Suzuki or Ullmann reactions to form carbon-carbon or carbon-heteroatom bonds. Also utilized in the development of liquid crystals and specialty polymers due to its structural stability and polarity.