This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the pharmaceutical and agrochemical industries. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs) and other biologically active molecules. Its bromine and hydroxyl groups make it a versatile building block for constructing complex structures, especially in the development of heterocyclic compounds. Additionally, it is employed in material science for creating specialized polymers and coatings with unique properties. Its role in organic synthesis also extends to the preparation of ligands for catalytic systems, contributing to advancements in chemical reactions and processes.