This compound is primarily utilized in organic synthesis as a building block for the development of more complex chemical structures. It serves as an intermediate in the production of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target neurological disorders. Additionally, it is employed in the creation of agrochemicals, where it contributes to the formulation of pesticides and herbicides. Its bromine and hydroxyl functional groups make it a versatile reagent for coupling reactions and further chemical modifications. Researchers also explore its potential in material science for designing advanced polymers and coatings with specific properties.