Used as an intermediate in the synthesis of various organic compounds, particularly in the production of fragrances and flavoring agents. It is also employed in the manufacture of antioxidants and stabilizers for polymers and plastics, enhancing their durability, performance, and resistance to degradation from light and heat. In the pharmaceutical industry, it serves as a building block for certain drugs and active pharmaceutical ingredients. Additionally, it finds application in the lubricant oil industry to improve thermal properties and stability, as well as in research and development for creating novel chemical entities with potential industrial or medicinal uses.