This chemical is widely used in the fragrance and flavor industry due to its pleasant floral and balsamic aroma. It serves as a key ingredient in the formulation of perfumes, cosmetics, and personal care products, adding a sweet, lilac-like scent. Additionally, it is employed in the synthesis of various organic compounds, including pharmaceuticals and agrochemicals, where it acts as an intermediate. Its properties also make it suitable for use in the production of fine chemicals and specialty materials.