Used in the fragrance industry as a base note in perfumes and colognes due to its woody and earthy aroma. It serves as a precursor in the synthesis of various organic compounds, including flavors and pharmaceuticals. It also exhibits anti-inflammatory and antibacterial properties, contributing to its use in the pharmaceutical industry. In research, it is utilized as a standard for chromatographic analysis and as a starting material for studying terpene chemistry. Additionally, it finds application in the production of adhesives and resins, contributing to their stability and durability.