This chemical is primarily used as a key intermediate in the synthesis of various polymers and resins. Its structure allows it to act as a building block for creating polyesters and polyurethanes, which are widely utilized in coatings, adhesives, and elastomers. Additionally, it finds application in the production of specialty chemicals, including plasticizers and lubricants, due to its ability to enhance flexibility and durability in materials. In the pharmaceutical industry, it serves as a precursor in the synthesis of certain drug molecules, contributing to the development of therapeutic agents. Its versatility also extends to the field of organic synthesis, where it is employed in the preparation of complex organic compounds.