Storax oil is widely used in the fragrance and perfumery industry due to its rich, balsamic aroma. It serves as a fixative in perfumes, enhancing the longevity of scents. The oil is also employed in aromatherapy for its calming and grounding properties, helping to alleviate stress and anxiety. In traditional medicine, it is utilized for its antiseptic and anti-inflammatory qualities, often applied topically to treat skin conditions like eczema and wounds. Additionally, storax oil is a component in some cosmetic formulations, contributing to its soothing effects on the skin. Its resinous nature also makes it a valuable ingredient in incense and candles, providing a warm, aromatic ambiance.