Used primarily as an intermediate in organic synthesis, this compound plays a key role in the production of various pharmaceuticals and agrochemicals. It is valuable in the creation of complex molecules due to its reactive bromomethyl group, which facilitates further chemical modifications. Additionally, it finds application in the development of specialty chemicals and materials, contributing to advancements in research and industrial processes. Its utility in cross-coupling reactions and as a building block in synthetic chemistry makes it a versatile component in laboratories and manufacturing settings.