This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a crucial role in the production of various fine chemicals and pharmaceuticals, where its bromine atoms and diol functional groups enable diverse chemical transformations. It is often employed in the synthesis of complex molecules, particularly in the construction of carbon-carbon and carbon-heteroatom bonds. Additionally, it finds application in the development of flame retardants due to its bromine content, which can enhance the fire-resistant properties of materials. Its reactivity also makes it a valuable component in research and development for exploring new chemical reactions and pathways.