This chemical is primarily utilized in the synthesis of various polymers and resins, particularly in the production of water-soluble polymers. It serves as a key intermediate in the creation of coatings and adhesives, enhancing their flexibility and durability. Additionally, it is employed in the development of specialty chemicals used in personal care products, such as hair gels and skin creams, due to its ability to modify viscosity and texture. In industrial applications, it acts as a corrosion inhibitor, protecting metal surfaces from degradation. Its reactive allyl group also makes it valuable in organic synthesis for constructing complex molecules in pharmaceuticals and agrochemicals.