This chemical is primarily utilized in the synthesis of polymers and resins, where it acts as a key monomer. Its structure allows it to participate in condensation reactions, forming polyesters with desirable properties such as flexibility and thermal stability. It is also employed in the production of specialty coatings and adhesives, where its ability to enhance durability and adhesion is highly valued. Additionally, it finds use in the pharmaceutical industry as an intermediate in the synthesis of active pharmaceutical ingredients (APIs), contributing to the development of various therapeutic agents. Its compatibility with other organic compounds makes it versatile in organic synthesis and material science applications.