This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of fragrances and flavoring agents due to its unique aromatic properties. It serves as a key intermediate in the production of complex molecules used in perfumery, where it contributes to creating warm, woody, and musky notes. Additionally, it finds application in the pharmaceutical industry as a building block for the synthesis of certain active pharmaceutical ingredients (APIs) that target specific therapeutic areas. Its structural features make it valuable in research and development for designing novel compounds with potential biological activity.