Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It is also employed in the manufacture of specialty chemicals, where it serves as a precursor for various esters and ethers. In the polymer industry, it acts as a crosslinking agent or modifier to enhance material properties. Additionally, it finds application in the development of liquid crystals and other advanced materials. Its reactivity makes it valuable in research and development for creating novel compounds with specific functionalities.