Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its bromine and hydroxyl groups make it a versatile building block for constructing complex molecules. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its ability to participate in coupling reactions and functional group transformations. Additionally, it finds application in the synthesis of dyes and pigments, where its structural properties contribute to color stability and intensity. In research, it is utilized to study reaction mechanisms and develop new synthetic pathways.