This chemical is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. Its structure, featuring both a bromo and a hydroxy group, makes it valuable for further functionalization through various chemical reactions. Additionally, it can be employed in the synthesis of dyes and pigments, where its aromatic ring and substituents contribute to color and stability. In research, it is often used to study reaction mechanisms or to develop new synthetic methodologies.