This chemical is primarily utilized in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the construction of more complex molecules, especially those containing thiophene rings, which are often found in bioactive compounds. Its bromine atom makes it a versatile building block for cross-coupling reactions, such as Suzuki or Heck reactions, enabling the formation of carbon-carbon bonds. Additionally, the hydroxyl group allows for further functionalization, making it valuable in the synthesis of polymers, ligands, and other fine chemicals. Its applications extend to materials science, where it can be used to create specialized organic electronic materials due to the thiophene moiety's conductive properties.