Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of active pharmaceutical ingredients (APIs) requiring brominated aromatic building blocks. Its dual hydroxymethyl groups allow for selective functionalization, enabling the construction of complex molecules in drug discovery. Also employed in the preparation of polymers and specialty resins where controlled reactivity and structural rigidity are needed. Commonly utilized in cross-coupling reactions such as Suzuki or Heck reactions to form biaryl structures in advanced organic synthesis.