This chemical is primarily utilized in organic synthesis as a building block for more complex molecules. It is often employed in the development of pharmaceuticals, where its bromophenyl group can be used to introduce specific functionalities into drug candidates. Additionally, it serves as an intermediate in the production of agrochemicals, contributing to the synthesis of compounds that protect crops from pests and diseases. Its diol structure also makes it a potential candidate for use in polymer chemistry, where it can be incorporated into resins or coatings to enhance their properties.