Used primarily in organic synthesis as a versatile intermediate for constructing complex molecules. It plays a key role in the preparation of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) where the phenylacetate moiety is required. Additionally, it serves as a building block in the synthesis of agrochemicals and fine chemicals. Its bromine atom makes it a valuable reagent for cross-coupling reactions, such as Suzuki or Heck reactions, enabling the formation of carbon-carbon bonds. It is also utilized in the production of esters and other derivatives for research and industrial applications.