Used primarily as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for creating more complex molecules due to its tertiary alcohol structure, which allows for selective reactions. Also employed as a solvent for resins and oils in industrial applications where moderate evaporation rate and low water solubility are beneficial. Additionally, it finds use in the formulation of fragrances and flavoring agents because of its mild, camphor-like odor.