Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals due to its reactive bromine and phenolic functional groups. The compound serves in the preparation of antimicrobial agents and biocides, where the phenol moiety contributes to biological activity. It is also employed in the development of specialty chemicals such as antioxidants and stabilizers in industrial formulations. Its structure allows for selective derivatization, making it valuable in research and development of new organic molecules.