This chemical is primarily utilized in organic synthesis as a versatile intermediate for the production of more complex molecules. It is often employed in the development of pharmaceuticals, where its structure serves as a building block for active pharmaceutical ingredients (APIs). Additionally, it finds application in the synthesis of agrochemicals, contributing to the creation of compounds used in crop protection and pest control. Its bromine and ester functional groups make it a valuable reagent in cross-coupling reactions, such as Suzuki or Heck reactions, which are pivotal in constructing carbon-carbon bonds in medicinal and materials chemistry. Researchers also use it in the preparation of specialty chemicals, including dyes, pigments, and polymers, where its unique structure imparts specific properties to the final product.