Used in the synthesis of anthraquinone dyes, which are important for textile dyeing, especially for cellulose fibers like cotton. Acts as an intermediate in the production of reactive dyes due to its ability to form covalent bonds with the fabric. Also employed in the development of functional polymers and photoactive materials because of its light-sensitive properties. Its bromomethyl group allows for easy chemical modification, making it valuable in organic synthesis and pharmaceutical research.