This chemical is primarily used in organic synthesis as a building block for the preparation of more complex compounds. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs with antibacterial or antifungal properties. Additionally, it is employed in the synthesis of specialty chemicals, such as polymers and resins, where its bromine and hydroxyl groups facilitate specific reactions. In research, it is utilized to study chemical reactions and mechanisms, aiding in the discovery of new materials or bioactive molecules. Its versatility makes it valuable in both industrial and laboratory settings.