Used primarily as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for creating more complex molecules due to its reactive bromine and hydroxyl groups. In pharmaceutical research, it is employed in the development of various therapeutic agents, including anti-inflammatory and antiviral drugs. Additionally, it finds application in the synthesis of liquid crystals and specialty polymers, where its structure contributes to desired material properties. Its role in fine chemical manufacturing is also notable, aiding in the creation of flavors, fragrances, and other high-value compounds.