Used as an intermediate in organic synthesis, particularly in the preparation of functionalized polymers and specialty chemicals. Its dual hydroxyl and ether functionalities allow for selective reactions, making it valuable in the development of surfactants, plasticizers, and cross-linking agents. It is also employed in the synthesis of biologically active molecules, where the benzyl group acts as a protecting group that can be easily removed under mild conditions. Additionally, it finds use in fragrance chemistry due to its ability to modify solubility and volatility in perfumery compounds.