Used primarily as an intermediate in organic synthesis, especially for the generation of dibromocarbene under basic conditions, facilitating cyclopropanation and other carbene-mediated reactions. It also serves in research settings for bromination and iodination reactions due to its ability to transfer bromine and iodine atoms. Investigated for applications in photochemistry and photocatalysis owing to its specific light absorption properties that can initiate certain reactions. Additionally, it is explored in the development of pharmaceuticals and agrochemicals where multi-halogenated building blocks are required. Limited industrial application due to instability and sensitivity, making it more suitable for controlled laboratory environments.