Used as an intermediate in organic synthesis, particularly in the production of biodegradable polymers and esters. It serves as a building block for polyesters and polyurethanes due to its bifunctional hydroxyl and ester groups. Also employed in the formulation of plasticizers and solvent systems where low toxicity and environmental compatibility are desired. Its hydrophilic nature makes it suitable for use in coatings and adhesives with improved flexibility and moisture resistance. Additionally, it has potential applications in the pharmaceutical and cosmetic industries as a solvent or excipient in drug delivery systems and skincare formulations.