Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of certain antifungal and antibacterial agents. It serves as a building block in organic reactions where bromine acts as a leaving group for coupling processes. Also employed in the preparation of dyes and fluorescent compounds due to its phenolic structure, which can undergo electrophilic substitution. Its hydroxyl groups allow for derivatization in polymer chemistry and coordination with metal ions in catalyst design.