This compound is primarily utilized in organic synthesis as a building block for more complex molecules. It is often employed in the development of pharmaceutical intermediates, particularly in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs) due to its structural similarity to active pharmaceutical ingredients. Additionally, it serves as a precursor in the production of agrochemicals, where it contributes to the creation of herbicides and fungicides. Its bromo and hydroxyl functional groups make it a versatile reactant in various coupling reactions, enabling the formation of diverse chemical structures. Researchers also explore its potential in material science for designing functional materials with specific properties.