Used primarily as a chemical intermediate in the synthesis of various organic compounds. It is often employed in the production of plasticizers, which enhance the flexibility and durability of plastics. Additionally, it serves as a precursor in the manufacture of fragrances and flavors, contributing to the creation of pleasant aromas in consumer products. In industrial applications, it is utilized as a solvent and in the formulation of lubricants, where it helps improve performance and reduce friction. Its role in the development of specialty chemicals also extends to the pharmaceutical industry, where it aids in the synthesis of active pharmaceutical ingredients.