Used primarily as an intermediate in the production of alcohols, plasticizers, and surfactants through processes like hydroformylation and hydration. It serves in the synthesis of fragrance compounds and flavoring agents due to its characteristic odor. Also utilized in polymer modification and as a comonomer in certain specialty polyolefins. Its reactivity makes it valuable in organic synthesis for creating longer-chain olefins and derivatives used in lubricants and detergents.