Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its reactive bromomethyl group allows for facile alkylation or substitution reactions, making it valuable in constructing complex molecules. Commonly employed in the development of active pharmaceutical ingredients (APIs) where ester and benzyl functionalities are required. Also utilized in the synthesis of agrochemicals and specialty polymers due to its ability to introduce aromatic and ester moieties into larger structures.