Used primarily as an intermediate in the synthesis of various organic compounds, it plays a key role in the production of specialty chemicals. Its hydroxyl groups make it a valuable building block for creating polymers, resins, and coatings, enhancing their flexibility and durability. Additionally, it is utilized in the formulation of adhesives and sealants, contributing to improved bonding properties. In the pharmaceutical industry, it serves as a precursor for developing active pharmaceutical ingredients (APIs) and other drug-related compounds. Its versatility also extends to the cosmetics sector, where it is incorporated into formulations to stabilize and modify product textures.