This chemical is primarily used in the synthesis of specialty polymers and resins, where it acts as a key building block to enhance flexibility and durability. It is also employed in the production of plasticizers, which are added to polymers to improve their workability and elongation properties. In the cosmetics industry, it serves as a humectant and moisturizing agent in skincare formulations, helping to retain moisture and improve skin texture. Additionally, it finds application in the pharmaceutical sector as an intermediate in the synthesis of active pharmaceutical ingredients (APIs) and excipients. Its unique structure makes it suitable for use in coatings and adhesives, where it contributes to improved adhesion and performance.