This chemical is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the preparation of complex molecules, particularly in pharmaceutical research and development. Its bromomethyl group enables it to participate in various substitution reactions, making it valuable for constructing biologically active compounds. Additionally, it is employed in the synthesis of agrochemicals and specialty chemicals, where its reactive sites allow for further functionalization. Its role in cross-coupling reactions also makes it useful in material science for creating advanced polymers and functional materials.