Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals due to its bifunctional structure containing both amine and alcohol groups. The compound serves in the production of surfactants and coupling agents, where it helps improve adhesion between organic and inorganic materials. It is also utilized in the formulation of corrosion inhibitors and in the development of specialty polymers, where it acts as a chain extender or crosslinking agent. Its reactivity and solubility make it suitable for applications in coatings, adhesives, and functional fluids.