Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals and agrochemicals. Its structure allows it to act as a building block for more complex molecules, particularly in the development of active ingredients for medications targeting bacterial and fungal infections. Additionally, it is utilized in the synthesis of dyes and pigments, contributing to the coloration of textiles and other materials. Its bromine and hydroxyl groups make it a versatile reagent in chemical reactions, enabling the creation of compounds with specific desired properties.