Used primarily as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, this compound serves in the preparation of brominated aromatic structures that enhance bioactivity. Its hydroxyl and bromo functional groups allow for selective cross-coupling reactions, making it valuable in the development of complex organic molecules. It is also employed in the production of flame retardants and specialty polymers where bromine content contributes to thermal stability and flame resistance. Additionally, it finds use in research settings for constructing ligands and catalysts in asymmetric synthesis.