Used primarily in the synthesis of lubricants and plasticizers due to its ability to enhance flexibility and durability in materials. It serves as an intermediate in the production of specialty chemicals, including coatings and adhesives, where it improves performance and stability. Additionally, it is employed in the formulation of certain pharmaceuticals, contributing to the development of active ingredients with tailored properties. Its role in organic synthesis is also notable, particularly in creating complex molecules for research and industrial applications.