This compound is primarily utilized in the synthesis of various organic molecules, particularly in the development of fragrances and flavoring agents. Its unique structure makes it a valuable intermediate in creating esters and other derivatives that contribute to the aroma and taste profiles of consumer products. Additionally, it finds application in the production of specialty chemicals used in the pharmaceutical industry, where it serves as a building block for more complex compounds. Its stability and reactivity under specific conditions make it suitable for controlled chemical reactions in industrial processes.