Used as an intermediate in organic synthesis, particularly in the production of surfactants and lubricants. It undergoes ring-opening reactions with nucleophiles such as alcohols, amines, and carboxylic acids to form functionalized derivatives. Commonly employed in the synthesis of epoxy resins and modifiers to improve flexibility and adhesion properties. Also utilized in the preparation of specialty chemicals for agrochemicals and pharmaceuticals due to its reactivity and ability to introduce hydroxyl and ether groups.