This chemical is primarily used in organic synthesis as a key intermediate for the production of various pharmaceuticals and fine chemicals. Its structure, featuring both a bromo and hydroxymethyl group, makes it versatile for further functionalization, enabling the creation of complex molecules. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) for therapeutic applications, such as anti-inflammatory or antimicrobial agents. Additionally, it serves as a building block in the synthesis of specialty chemicals used in research and industrial processes. Its reactivity also allows for its use in the preparation of advanced materials, including polymers and coatings with specific properties.