Used primarily as a specialty solvent and intermediate in organic synthesis, this compound is particularly valuable in the preparation of fine chemicals and pharmaceuticals. Its cyclic carbonate structure makes it useful in reactions involving carbon dioxide fixation or as a protecting group in multistep syntheses. It also finds application in the development of electrolytes for lithium-ion batteries due to its ability to stabilize charge-discharge cycles. Additionally, it serves as a building block in the synthesis of biodegradable polymers and polycarbonates, contributing to environmentally friendly plastic alternatives. Its reactivity and solubility properties make it suitable for use in coatings, adhesives, and electronic materials.