Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) like ibuprofen and related derivatives. It serves as a key building block due to its reactive α-chloro ester functionality, which allows for nucleophilic substitution and carbon chain elongation. Also employed in the preparation of agrochemicals and fragrances where a phenyl-substituted ester backbone is required. Its versatility in organic synthesis makes it valuable in creating chiral molecules through asymmetric synthesis routes when combined with appropriate catalysts.