This chemical is primarily used in the synthesis of various polymers and as a building block in the production of specialty chemicals. It serves as a key intermediate in the creation of polyethylene glycol (PEG) derivatives, which are widely utilized in pharmaceuticals, cosmetics, and biotechnology. Its hydrophilic properties make it suitable for modifying surfaces to enhance biocompatibility or for use in drug delivery systems to improve solubility and stability of active compounds. Additionally, it is employed in the formulation of adhesives, coatings, and surfactants due to its ability to act as a solubilizing agent and stabilizer.