Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It plays a key role in the preparation of heterocyclic compounds due to the presence of both bromo and hydroxy functional groups, which allow for further chemical modifications. Commonly employed in the development of anticoagulants and antifungal agents. Also utilized in the production of UV absorbers for polymers and coatings, enhancing material stability under sunlight exposure. Its reactivity makes it valuable in organic synthesis, particularly in coupling reactions and the formation of chalcone derivatives with biological activity.