Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly those targeting central nervous system disorders. It is also employed in the development of dyes and pigments, contributing to vibrant and stable colors in textiles and industrial applications. Additionally, its reactive bromine and hydroxyl groups make it valuable in polymer chemistry, where it aids in creating specialized resins and coatings with enhanced properties. Its role in agrochemical research includes the synthesis of herbicides and pesticides, offering solutions for crop protection and yield improvement.