Primarily used in industrial settings, this chemical serves as a flame retardant in various materials, including plastics and electrical equipment, due to its ability to inhibit combustion. It is also employed in the synthesis of more complex organic compounds, particularly in research and development for creating specialized polymers. Additionally, it has been utilized in dielectric fluids for capacitors and transformers, enhancing their performance and stability. However, its use is highly regulated due to environmental and health concerns, leading to strict guidelines on its application and disposal.