This chemical is primarily used as an intermediate in the synthesis of various organic compounds. It finds application in the production of polymers and resins, where it contributes to the formation of durable and flexible materials. Additionally, it is utilized in the manufacture of plasticizers, which enhance the plasticity and workability of polymers. The compound is also employed in the development of coatings and adhesives, providing improved adhesion and stability. In the pharmaceutical industry, it serves as a building block for the synthesis of active pharmaceutical ingredients (APIs). Furthermore, it is used in the creation of personal care products, where it acts as a stabilizer or solvent in formulations such as lotions and creams. Its versatility makes it valuable in industrial and consumer applications.