Used as an intermediate in the synthesis of specialty chemicals and polymers, particularly in the production of water-soluble resins and coatings. It is also employed in the formulation of adhesives and sealants, where its properties enhance flexibility and adhesion. Additionally, it finds application in the pharmaceutical industry for the development of drug delivery systems, improving solubility and bioavailability of active ingredients. In the field of personal care, it is utilized in cosmetic formulations to stabilize emulsions and improve product texture.