Used as a key intermediate in the synthesis of energetic materials, particularly in the production of plasticizers and binders for propellants and explosives. Its hydroxyl groups allow for esterification, enabling the creation of nitrate esters that improve the performance and stability of solid rocket fuels. Also employed in polymer applications where flexibility and moisture resistance are required. Additionally, it serves as a building block in organic synthesis for pharmaceuticals and fine chemicals due to its multifunctional reactivity.