Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves in the production of non-steroidal anti-inflammatory drugs (NSAIDs) due to its structural similarity to other arylacetic acid derivatives known for analgesic and anti-inflammatory properties. Also employed in the development of crop protection agents, where it acts as a building block for herbicides and plant growth regulators. Its substituted aromatic ring enhances lipophilicity, improving cell membrane penetration in biologically active molecules.