This chemical is primarily utilized in the pharmaceutical and agrochemical industries as a key intermediate in the synthesis of various active compounds. Its structure, featuring a biphenyl group attached to an acetic acid moiety, makes it valuable for developing drugs with anti-inflammatory, analgesic, or antihypertensive properties. Additionally, it serves as a building block in the production of herbicides and fungicides, contributing to enhanced crop protection. Its versatility in organic synthesis also extends to material science, where it is used in the development of advanced polymers and coatings with specific functional properties.