Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for the preparation of various active ingredients due to its stable tertiary alcohol structure. Commonly employed in the synthesis of fragrances and flavoring agents because of its aromatic character and mild odor. Also utilized in the development of specialty polymers where controlled hydrophobicity and steric bulk are required. Its reactivity allows for easy functionalization, making it valuable in research and development of new chemical entities.