Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block in the development of ester-based prodrugs due to its biodegradable ester linkage and aromatic structure. Also employed in fragrance formulations for its mild, floral-woody aroma, making it valuable in perfumery and cosmetic products. Additionally, it acts as a solvent or plasticizer in specialty polymers, enhancing flexibility and stability.