This chemical is primarily utilized in the synthesis of fine chemicals and intermediates for the production of fragrances and flavors. Its unique structure makes it a valuable precursor in the creation of musk-like compounds, which are widely used in perfumery to impart long-lasting and distinctive scents. Additionally, it serves as a key building block in the development of specialized polymers and resins, where its diene and diol functionalities enable cross-linking and enhance material properties. In pharmaceutical research, it is explored for its potential in designing bioactive molecules due to its stereochemistry and reactivity. Its applications also extend to organic synthesis, where it is employed in catalytic processes to produce complex cyclic compounds.