Used as an intermediate in the synthesis of fragrances and flavor compounds due to its reactive double bond and hydroxyl group. Commonly employed in the production of macrocyclic musk fragrances by ring-closing metathesis. Also utilized in the manufacture of polymer additives and surface modifiers, where its long alkyl chain and functional groups help improve compatibility and dispersion in coating formulations. Its ability to undergo ozonolysis or oxidation makes it valuable for generating aldehydes and carboxylic acids used in perfumery.