This chemical is primarily used in the synthesis of various polymers and resins, where it acts as a building block to enhance the material's properties, such as flexibility and durability. It is also employed in the production of coatings and adhesives, contributing to improved adhesion and resistance to environmental factors. In the pharmaceutical industry, it serves as an intermediate in the synthesis of active pharmaceutical ingredients (APIs), particularly in the development of drugs targeting cardiovascular and neurological conditions. Additionally, it finds applications in the formulation of personal care products, where it helps stabilize emulsions and improve the texture of creams and lotions. Its role in organic synthesis extends to the creation of specialty chemicals used in agrochemicals and fragrances.