Used primarily as a chemical intermediate in the synthesis of various organic compounds. It plays a role in the production of specialty chemicals, including fragrances and flavoring agents, due to its ability to introduce acetyl groups into molecules. Additionally, it is utilized in polymer chemistry for modifying the properties of resins and plastics, enhancing their flexibility and durability. In the pharmaceutical industry, it serves as a precursor in the development of certain active pharmaceutical ingredients, contributing to the synthesis of complex drug molecules. Its applications also extend to the field of agrochemicals, where it is involved in the creation of pesticides and herbicides.