Used primarily as a chemical intermediate in the production of specialty polymers and resins. It plays a role in enhancing the flexibility and durability of coatings and adhesives. Additionally, it is utilized in the synthesis of certain pharmaceuticals, where it contributes to the stability and efficacy of active ingredients. In industrial applications, it serves as a solvent or additive in formulations requiring controlled release properties. Its unique structure makes it valuable in creating materials with specific performance characteristics, such as improved thermal stability and resistance to environmental factors.