This chemical is widely used in the production of synthetic lubricants due to its ability to reduce friction and enhance the performance of machinery. It is also employed in the formulation of industrial coatings, where it improves durability and resistance to environmental factors. Additionally, it serves as a key component in the manufacture of plasticizers, which are essential for increasing the flexibility of various plastic materials. In the pharmaceutical industry, it is utilized as an intermediate in the synthesis of certain active ingredients. Furthermore, it plays a role in the creation of adhesives and sealants, contributing to their bonding strength and longevity.