Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of chiral compounds due to its asymmetric center. Serves as a building block in the development of bio-based solvents and green chemistry applications. Also explored in the formulation of biodegradable polymers and as a precursor in the manufacture of fragrances and flavoring agents. Its reactivity allows for easy functionalization, making it valuable in organic synthesis and catalysis research.