This chemical is primarily utilized in organic synthesis as a versatile intermediate for constructing complex molecules. It is particularly valuable in the pharmaceutical industry for the development of active pharmaceutical ingredients (APIs) due to its reactive bromomethyl group, which facilitates further functionalization. Additionally, it serves as a key building block in the synthesis of heterocyclic compounds, which are essential in the creation of various drugs and agrochemicals. Its application extends to material science, where it is used in the preparation of advanced polymers and coatings with specific properties.