Used primarily as an intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its functional groups, including the bromo and formyl substituents, make it versatile for further chemical modifications, such as coupling reactions or the creation of complex molecular structures. It is also employed in the development of dyes, pigments, and advanced materials due to its ability to introduce specific reactive sites into aromatic systems. Additionally, it serves as a building block in the synthesis of biologically active compounds, contributing to drug discovery and development processes.