Used primarily in the production of specialty polymers and resins, it serves as a key monomer in creating materials with unique properties such as flexibility and durability. It is also employed in the synthesis of fragrances and flavoring agents, contributing to the development of complex scent profiles in perfumes and food products. Additionally, it finds application in organic synthesis as an intermediate for producing various chemical compounds, including pharmaceuticals and agrochemicals. Its role in the manufacture of adhesives and coatings further enhances its industrial significance, providing essential characteristics like resistance and stability.