This compound is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the preparation of more complex molecules, particularly in pharmaceutical research and development. Its structure allows for further functionalization, making it valuable in the synthesis of active pharmaceutical ingredients (APIs) or agrochemicals. The bromine atom in the molecule enables cross-coupling reactions, such as Suzuki or Heck reactions, which are widely used in medicinal chemistry. Additionally, it can be employed in the development of liquid crystal materials or as a precursor for dyes and pigments. Its ester group also makes it suitable for hydrolysis or transesterification reactions, expanding its utility in various chemical processes.