Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and analgesic agents. Its structure allows for easy functionalization, making it valuable in creating active pharmaceutical ingredients (APIs). Commonly employed in the preparation of substituted phenylacetic acid derivatives, which are found in nonsteroidal anti-inflammatory drugs (NSAIDs). Also utilized in organic synthesis for building more complex molecules through esterification, amidation, or alkylation reactions. Its chloromethyl group provides a reactive site for coupling with other molecules, enhancing its utility in drug discovery and development.