Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of functionalized polymers and specialty chemicals. Its reactive sulfonate ester group allows for efficient nucleophilic substitution reactions, making it valuable in pharmaceutical research for modifying molecular structures. It is also employed in the development of biocompatible materials and prodrugs, where the hydroxyl terminus can be further conjugated to active ingredients or polymer chains. Additionally, it finds use in creating crosslinking agents for advanced coating formulations and in the synthesis of surfactants with tailored hydrophilic-lipophilic balance.