This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex chemical structures. It is often employed in the pharmaceutical industry for the development of active pharmaceutical ingredients (APIs), where its bromo and hydroxymethyl functional groups allow for further chemical modifications. Additionally, it serves as a building block in the synthesis of agrochemicals, contributing to the creation of herbicides or pesticides. Its ester group also makes it a candidate for use in polymer chemistry, where it can be incorporated into specialty polymers or coatings. Researchers may also use it in academic and industrial labs for studying reaction mechanisms or developing new synthetic methodologies.