This compound is primarily used in the synthesis of fine chemicals and pharmaceutical intermediates. It serves as a key building block in the production of complex molecules, particularly in the development of drugs targeting neurological and cardiovascular disorders. Its structure allows for further functionalization, making it valuable in organic synthesis for creating compounds with specific biological activities. Additionally, it is employed in the preparation of polymers and coatings, where its cyclohexane ring contributes to enhanced stability and rigidity in the final material. Its hydroxyl and ester groups also make it a versatile reagent in esterification and transesterification reactions.