Used primarily as a reactive intermediate in the synthesis of various polymers and resins. It is particularly valuable in the production of epoxy-based coatings and adhesives, where its epoxide group enables cross-linking to form durable, chemically resistant materials. Additionally, it serves as a building block in the creation of specialty chemicals, such as surfactants and lubricants, due to its ability to introduce functional groups into organic molecules. Its application extends to the modification of natural oils and fats, enhancing their properties for industrial use.