Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its reactive bromoethyl group allows for efficient alkylation reactions, making it valuable in the development of biologically active molecules. Additionally, it is utilized in the synthesis of pyrazole derivatives, which are important in drug discovery for their potential therapeutic properties, such as anti-inflammatory and antimicrobial activities. The compound also finds application in material science, where it contributes to the creation of specialized polymers and coatings with enhanced properties.