Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of brominated compounds, which are often utilized in the development of active pharmaceutical ingredients (APIs). Additionally, it finds application in the preparation of dyes and pigments, where its bromine content enhances the stability and color properties of the final product. Its role in creating complex organic molecules makes it a crucial component in research and industrial chemistry.