Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of esters and ethers for fragrance and flavor industries. Its reactivity allows for the introduction of acetoxy and ethoxy functionalities in more complex molecules. It is also employed in the development of specialty solvents and as a protecting group reagent in multi-step synthesis. Due to its volatility and ester-like character, it finds niche use in perfumery components and as a modifier in coating formulations.