This chemical is primarily used in organic synthesis as an intermediate for the production of more complex compounds. It serves as a building block in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target various therapeutic areas. Its bromo and hydroxyl functional groups make it a versatile reagent for further chemical modifications, such as coupling reactions or esterification. Additionally, it can be employed in the research and development of agrochemicals, where it may contribute to the creation of new herbicides or pesticides. Its role in material science is also notable, as it can be used in the synthesis of specialty polymers or coatings with specific properties.