Used as a versatile intermediate in organic synthesis, particularly in the production of specialty chemicals. It serves as a key building block for the synthesis of complex molecules in pharmaceuticals, where it can be incorporated into drug formulations to enhance stability or bioavailability. In the polymer industry, it is employed to create modified polyesters and polyurethanes, improving their flexibility and durability. Additionally, it finds application in the production of adhesives and coatings, contributing to enhanced performance characteristics such as adhesion and resistance to environmental factors. Its diethoxyethyl group makes it valuable in the development of controlled-release formulations in agrochemicals, ensuring prolonged efficacy of active ingredients.