Used primarily as an intermediate in organic synthesis, this compound plays a key role in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the construction of complex molecules due to its reactive bromine atoms, which facilitate substitution reactions. Additionally, it serves as a building block in the development of dyes and specialty chemicals, where its methoxy group can influence the electronic properties of the final product. Its application extends to materials science, where it is utilized in the synthesis of advanced polymers and coatings.