Used primarily as an intermediate in organic synthesis, this compound plays a key role in the production of various pharmaceuticals and agrochemicals. It is also utilized in the development of specialty chemicals, including dyes and pigments, due to its ability to introduce bromine and phenolic functionalities into complex molecules. In research, it serves as a building block for creating more complex organic compounds, particularly in studies involving brominated phenols and their derivatives. Additionally, it finds application in material science for modifying polymer properties or synthesizing advanced materials.