Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its reactive bromomethyl group allows for further functionalization, making it valuable in constructing complex molecules. It is often employed in the development of active pharmaceutical ingredients (APIs) due to its ability to introduce nitro and ester functionalities into target structures. Additionally, it finds application in research settings for studying reaction mechanisms and developing novel synthetic pathways. Its versatility makes it a useful building block in medicinal chemistry and material science.