Used as an intermediate in organic synthesis, particularly in the production of specialty polymers and resins. It serves as a building block for crosslinking agents in coatings and adhesives, enhancing water resistance and mechanical strength. Also employed in the synthesis of fragrances and flavor compounds due to its reactive diol and olefin groups. Its bifunctional nature allows for use in step-growth polymerization processes, contributing to the development of polyurethanes and polyester derivatives with tailored properties.