Methyl 5-bromobenzofuran-2-carboxylate is commonly used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its structure makes it valuable for constructing more complex molecules, especially those with benzofuran cores, which are often found in bioactive compounds. It is utilized in the synthesis of potential drug candidates, including those targeting neurological disorders, inflammation, and cancer. Additionally, it serves as a building block in the creation of materials with specific optical or electronic properties, contributing to advancements in material science.