Used primarily as an intermediate in the synthesis of biodegradable polymers and polyesters, this compound contributes to the production of environmentally friendly coatings, adhesives, and plasticizers. Its hydroxyl and carboxylic functional groups enable cross-linking reactions, making it valuable in resin formulations. It is also utilized in cosmetic formulations as a moisturizing agent due to its hygroscopic properties and mild skin compatibility. Additionally, it serves in the development of green solvents and bio-based lubricants, supporting sustainable chemistry initiatives.