Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block for esters, polymers, and biodegradable plastics due to its reactive hydroxyl and ester functional groups. Also employed in the fragrance and flavor industry for synthesizing ester-based aroma compounds. Its solubility and moderate polarity make it suitable as a solvent or co-monomer in specialty coatings and resins.