This compound is primarily utilized in organic synthesis as an intermediate in the production of various pharmaceuticals and fine chemicals. Its structure, featuring both a bromoethyl group and diol functionality, makes it a versatile building block for constructing more complex molecules. It is often employed in the synthesis of catechol derivatives, which are important in the development of antioxidants, enzyme inhibitors, and other bioactive compounds. Additionally, it can be used in the preparation of ligands for metal coordination chemistry, aiding in the creation of catalysts for industrial processes. Its reactivity also allows for its use in the development of polymers and materials with specific functional properties.