This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a key building block in the creation of complex molecules due to its reactive bromomethyl group, which allows for further functionalization. Additionally, it is employed in the development of fine chemicals and specialty materials, where its methoxy group can influence the electronic properties of the final product. Its applications also extend to research and development, where it is utilized in the study of chemical reactions and the synthesis of novel compounds.