Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in the formation of benzimidazole derivatives, which are known for their biological activity, including antifungal, antiviral, and anticancer properties. Additionally, it is employed in the development of dyes and pigments due to its ability to introduce bromine and other functional groups into aromatic systems. Its reactivity with nucleophiles makes it a versatile reagent in constructing complex molecular structures.