Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) where the bromomethyl group facilitates further functionalization. Additionally, it is employed in the synthesis of fine chemicals and specialty compounds, often acting as a key building block in complex molecular structures. Its reactivity makes it suitable for use in cross-coupling reactions, which are essential in creating advanced materials and bioactive molecules.