Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of certain antiseptics and disinfectants. It serves as a building block in organic synthesis due to the presence of reactive bromo and hydroxyl groups, enabling coupling reactions and functional group transformations. Also employed in the preparation of dyes and UV absorbers for cosmetics and plastics, where it contributes to light stability. Its derivatives are explored in medicinal chemistry for potential bioactive properties.