This compound is primarily used in organic synthesis as a building block for more complex molecules. It is often employed in the preparation of pharmaceuticals, agrochemicals, and specialty chemicals due to its reactive bromo and ester functional groups. The bromine atom makes it a valuable intermediate in nucleophilic substitution reactions, allowing for the introduction of various substituents. Additionally, the ester group can be hydrolyzed or reduced to yield alcohols or carboxylic acids, further expanding its utility in synthetic chemistry. It is also used in the development of polymers and materials science for modifying properties of coatings, adhesives, and resins.