This compound is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the preparation of more complex molecules, particularly in pharmaceutical research and development. Its bromine atom makes it suitable for further functionalization through cross-coupling reactions, such as Suzuki or Heck reactions, enabling the creation of diverse chemical structures. Additionally, it finds application in the synthesis of agrochemicals and specialty chemicals, where its aromatic ester functionality contributes to the development of compounds with specific biological or physical properties. Its role in material science is also notable, particularly in the design of organic electronic materials or polymers.