Used as a solvent and chemical intermediate in organic synthesis, particularly in the production of esters and other functionalized compounds. It serves in the formulation of coatings, adhesives, and plasticizers due to its ability to dissolve a wide range of organic materials. Also finds use in flavor and fragrance industries as a reactive component in esterification processes. Its hydroxyl and ester groups enable cross-linking reactions, making it valuable in resin and polymer modification. Additionally, it acts as a protecting group carrier in pharmaceutical synthesis.