Used as an intermediate in organic synthesis, particularly in the production of polymers and resins. Its diol functionality allows it to participate in condensation reactions, making it suitable for developing polyesters and polyurethanes with enhanced flexibility and thermal stability. Also employed in the formulation of specialty coatings and adhesives due to its ability to improve adhesion and durability. Additionally, it serves as a building block in pharmaceuticals and agrochemicals, where its cyclic structure contributes to molecular rigidity and stability.