This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for creating more complex molecules due to its reactive bromine and hydroxyl groups. Additionally, it is employed in the development of specialty chemicals, such as surfactants and polymers, where its structure allows for modifications to achieve desired properties. In research settings, it is utilized in the study of reaction mechanisms and the synthesis of novel compounds. Its dual functionality makes it a versatile reagent in various industrial and laboratory applications.