This chemical is primarily used in organic synthesis as an intermediate for the production of more complex compounds. It finds application in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) with potential therapeutic properties. Additionally, it is utilized in research laboratories for the preparation of novel organic molecules, aiding in the study of chemical reactions and material properties. Its bromine and hydroxyl groups make it a versatile building block in the creation of dyes, pigments, and other specialty chemicals.