Used as a key intermediate in organic synthesis, particularly in click chemistry reactions due to the presence of the azide group. It participates in copper-catalyzed azide-alkyne cycloaddition (CuAAC) to form triazole derivatives, which are important in pharmaceutical development and bioconjugation. Also employed in the preparation of functionalized polymers and surface modifiers for materials science applications. Its hydroxyl group allows for further derivatization, making it useful in crosslinking agents and in the synthesis of specialty monomers.