Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. Its structure allows for selective functionalization in organic reactions, making it valuable in the development of active ingredients in crop protection agents. Also employed in the preparation of specialty chemicals, including fragrances and antioxidants, due to the presence of reactive bromo and hydroxyl groups. Commonly utilized in cross-coupling reactions such as Suzuki or Heck reactions to build complex aromatic systems in fine chemical manufacturing.